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26.10.2023 06:13 AM
USDCAD H4 I Heading into resistance?
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The USD/CAD chart currently displays bullish overall momentum, with the potential scenario of a bullish continuation towards the 1st resistance level.

The 1st resistance level at 1.3848 is identified as a swing-high resistance that aligns with the 127.20% Fibonacci extension level. Higher up, the 2nd resistance level at 1.3919 is marked as a resistance level that aligns with the 161.80% Fibonacci extension level.

To the downside, the 1st support level at 1.3786 is identified as a pullback support. Further below, the 2nd support level at 1.3736 is noted as an overlap support, potentially acting as a strong support zone.

Dean Leo,
Analytical expert of InstaTrade
© 2007-2025

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