USDCAD H4 | Bearish Reversal
Title
USDCAD H4 | Bearish Reversal
Type
Bearish Reversal
Preference:
The price is approaching the pivot of 1.3493, which acts as a pullback resistance. A reversal at this point might cause the price to fall to the 1st support level at 1.2443, a pullback support close to the 78.6% Fibonacci retrtacement.
Alternative Scenario:
Should the price break above the pivot, it may rise to the 1st resistance level at 1.3545, which serves as a pullback resistance.