USDCAD facing bearish pressure, potential for more downside!
Prices are facing bearish pressure from horizontal swing high resistance in line with 38.2% Fibonacci retracement and 100% Fibonacci extension. Prices might push down towards 1st support in line with horizontal swing low support and 161.8% Fibonacci retracement. If prices push up further, prices might face resistance from 2nd resistance which is a horizontal pullback resistance in line with 78.6% Fibonacci retracement and 161.8% Fibonacci extension. EMA is also above prices, showing bearish pressure for prices.
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