USDCAD is bouncing off the support
USDCAD bounced off the 1.2850 support. This could lead to another retest of 1.3000 and a break above it for a continuation much higher to the 1.3400-1.3600 zone. 1.3028 is a moderately strong Fibonacci 38.2% retracement upside resistance and should be cleared. A confirmed break below 1.2840 will invalidate the upside continuation and lead to a test of 1.2600 which is in this stage a low probability.
Note: look for the long trade entries with the stop loss below 1.2860
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