USD/CAD approaching resistance, potential drop!

USD/CAD is approaching our first resistance at 1.3468 (horizontal swing high resistance, 61.8% extension) where a strong drop might occur below this level pushing the price down to our major support at 1.3340 (61.8% fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback support). Stochastic (55,5,3) is also nearing resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.

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