Title
USDCAD H4 | Bounce off support
Type
Bullish Bounce
Preference:
Price is falling to our pivot point of 1.33161 which is a multi-swing low support. A reverse from here. price could rally to 1st resistance at 1.34054 which is an overlap resistance level.
Alternative scenario:
However, if price breaks below the pivot, it could fall to 1st support at 1.3268
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.