Technical Analysis 23 February – Bearish outlook on USDCAD

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On the H2 time frame, prices tapped into a resistance area at 1.27735, in line with the graphical resistance area and 100% Fibonacci extension . This presents an opportunity to play the drop to the next support target at 1.26504, in line with the fibonacci confluence level and graphical support. Stochastic is reaching our resistance as well where we could see a reversal below this level.



Bearish outlook on USDCAD: 22 Feb 2022 by OrtegaCapital on TradingView.com

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