USDCAD H4 | Bullish bounce off 38.2% Fibo?

TitleUSDCAD H4 | Bullish bounce off 38.2% Fibo?TypeBullish BouncePreference:Price is falling towards the pivot point of 1.36026 which is an overlap support that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.37255 which is a level that aligns with the 161.8% Fibonacci extension level.Alternative scenario:If price breaks below the pivot point, it could hit the 1st support at 1.35043 which is a pullback support level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.