USD/CAD approaching major resistance, look to sell soon

The price is approaching a key resistance level at 1.2985 (Fibonacci retracement, Fibonacci projection, horizontal pullback resistance) where we expect a reaction from and a drop to at least 1.2765.

RSI (21) is approaching 61% resistance level where we expect the price to drop from.

Stochastics (21,5,3) is also facing resistance at a key 89% level.

Sell below 1.2985. Stop loss is at 1.3100. Take profit is at 1.2765.

The material has been provided by InstaForex Company - www.instaforex.com

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