The USD/CAD has formed a bullish swing but the price is still below the breakout level. We see a retracement at this point and next zone for a potential bounce is 1.2875-1.2890. There is a lot of confluence within the zone including 61.8 fib of the last swing. However, for a bullish continuation a clear break of 1.3028 is needed (or 4h close above) and the doors to 1.3078 will be open. The USD/CAD needs to stay above 1.2825 for bulls to dominate.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 – Daily Camarilla Pivot (Very StrongDaily Resistance)
DL3 – Daily Camarilla Pivot (Daily Support)
DL4 – Daily H4 Camarilla (Very Strong Daily Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
