USDCAD is approaching our first support at 1.3294 (horizontal swing low support, 100% Fibonacci extension, 78.6% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1.3389 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic is also approaching support where we might see a corresponding bounce in price.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
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