USDCAD H4 | Bearish reaction off pivot?

TitleUSDCAD H4 | Bearish reaction off pivot?TypeBearish ReversalPreference:Price is approaching a 127.2% fibo extension now, and could react off our pivot point at 1.3664, which is a pullback resistance level. If price reacts bearishly, then we can expect price to fall to the 1st support at 1.3630, which is a swing low support level, aligning with the 161.8% fibo extension.Alternative scenario:If price breaks above the pivot point, then price could rise towards the 1st resistance at 1.3690, which is a pullback resistance as well.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.