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USD/CAD testing resistance, potential drop!

USDCAD is testing our first resistance at 1.3238 where we are expecting a drop below this level.

Entry :1.3238

Why it's good : 38.2% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap resistance

Stop Loss : 1.3297

Why it's good : 50% Fibonacci retracement

Take Profit : 1.3107

Why it's good : horizontal overlap support, 61.8% Fibonacci retracement

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The material has been provided by InstaForex Company - www.instaforex.com