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USD/CAD reversed off resistance, potential drop!

Price reversed off its resistance at 1.3151 where it could potentially reverse back down towards its support. .

Entry: 1.3151

Why it's good : horizontal overlap resistance, 23.6% & 61.8% Fibonacci retracement

Stop Loss : 1.3185

Why it's good : 78.6% Fibonacci retracement

Take Profit : 1.3105

Why it's good: Horizontal pullback support, 50% Fibonacci retracement

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