USDCAD H4 | Heading into overlap resistance

TitleUSDCAD H4 | Heading into overlap resistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 1.33649 which is an overlap resistance and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.32589 which is a pullback support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 1.34088 which is a pullback resistance that sits above the 50.0% Fibonacci retracement 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.