USDCAD H4 | Bearish Reversal
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.