Title

USDCAD H4  | Bearish Reversal

Type

Bearish Reversal

Preference:

The price is approaching the pivot of 1.3544, which acts as a pullback resistance close to the 50% Fibonacci retracement. A reversal at this point might cause the price to fall to the 1st  support level at 1.3492, a pullback support.

Alternative Scenario: 

Should the price break above the pivot, it may rise to the 1st  resistance level at 1.3614, which serves as a pullback resistance.