Title

USDCAD  H4 | Bearish Reversal 

Type

Bearish Reversal 

Preference:

The price is moving towards the pivot level of 1.3500, which serves as a pullback resistance near the38.2% Fibonacci retracement. A reversal at this level could cause the price to drop to the 1st  support at 1.3442, a pullback support. 

Alternative Scenario:

 If the price breaks above the pivot, it may rise to the 1st  resistance level at 1.3543, which acts as an overlap resistance near the 50% Fibonacci retracement.