USDCAD H4 | Reacting off resistance level?

TitleUSDCAD H4 | Reacting off resistance level?TypeBearish ReversalPreference:Price has just reacted off our pivot point of 1.36905, which serves as a swing-high resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.36319, a pullback support level.Alternative scenario:However, if the price breaks above the pivot, it might rise to the 1st resistance at 1.3778, which aligns with the 127.2% Fibo extensionTo discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.