USDCAD H4 | Bearish Reversal
Title
USDCAD H4 | Bearish Reversal
Type
Bearish Reversal
Preference:
The price is moving up towards the pivot level of 1.3800, which acts as a pullback resistance close to the 161.80% Fibonacci extension. A reversal at this level could cause the price to drop to the 1st support at 1.3730, an overlap support.
Alternative Scenario:
If the price breaks above the pivot, it may rise to the 1st resistance level at 1.3880, a multi swing highresistance level.