Title

USDCAD  H4 | Bullish Reversal

Type

Bullish Reversal

Preference:

The price is falling from the pivot level of 1.3570, which acts as an overlap support leve. A bounce from this level might cause the price to rise to the 1st resistance level at 1.3696, a pullback resistance close to the 50% Fibo retracement and the 127.20% Fibonacci extension

Alternative Scenario:

If the price breaks below the pivot, it may fall to the 1st support level at 1.3533, which acts as a pullback  support.