USDCAD is approaching our first support at 1.2887 (Horizontal overlap support, 50% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1.2997 (horizontal swing high resistance, 76.4% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (55,5,3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.
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