USDCAD facing bearish pressure, potential for more downside!
Prices are facing bearish pressure from 1st resistance which is our horizontal swing high resistance, in line with 78.6% fibonacci extension. Prices might push down towards 1st support which is our horizontal swing low support which is in line with 50% fibonacci extension and 61.8% fibonacci retracement. Stochastics is also facing resistance from 90.92 level, signalling a possible push down, in line with our analysis.
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