Type:Bullish BounceKey Levels:Resistance: 1.29389Pivot: 1.2846Support: 1.28035Preferred Case:Price is trading in an ascending channel and near pivot level of 1.2846 which is also 38.2% Fibonacci retracement. Price can potentially go to the 1st resistance level of 1.29389 which is also 78.6% Fibonacci retracement and 78.6% Fibonacci projectionAlternative Scenario:Price can potentially dip to the 1st support level of 1.28035 which is also 38.2% Fibonacci retracement and 61.8% Fibonacci projection .
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdcad-h4-or-potential-further-uptrend"
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