Title

USDCAD H4  | Bullish Bounce 

Type

Bullish Bounce

Preference:

The price is falling toward the pivot level of 1.3756, which acts as a pullback support. A reversal at this level could cause the price to rise to the 1st  resistance at 1.3855, an overlap resistance.

Alternative Scenario:

 If the price breaks below the pivot, it may drop to the 1st support level at 1.3699, a pullback support level. Additionally, when the price remains above  the Ichimoku cloud, it's typically seen as a strong bullish signal, indicating upward momentum