TitleUSDCAD H4 | Falling to 23.6% Fibo supportTypeBullish BouncePreference:Price is falling towards the pivot point of 1.36955 which is an overlap support that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.37841 which is a swing-high resistance level..Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 1.3634 which is an overlap support that aligns close to the 38.2% Fibonacci retracement level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
