USDCAD facing bearish pressure, potential for more downside!
USDCAD is facing bearish pressure from horizontal swing high resistance in line with 127.2% Fibonacci extension and 78.6% Fibonacci retracement. Prices might push down towards 1st support which coincides with -27.2% Fibonacci retracement and 78.6% FIbonacci extension. If prices push up, prices might face resistance from horizontal pullback resistance in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension. Ichimoku cloud is above prices, showing a bearish pressure for prices.
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