USDCAD H4 | Potential bearish breakout

TitleUSDCAD H4 | Potential bearish breakoutTypeBearish BreakoutPreference:Price is falling towards the pivot point of 1.35768 which is a pullback support and could potentially break below this level; we could see momentum carry price down to its 1st support at 1.35248 which is a pullback support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 1.36228 which is a pullback resistance that aligns with the 23.6% 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.