FX.co ★ Prepare to sell USD/CAD after breaking major support

We prepare to sell USD/CAD upon the break of the key support level at 1.3528 (Fibonacci retracement, horizontal overlap support, Elliott Wave theory). If the price breaks this level, we will place our stop loss at 1.3592 with profit target at 1.3423 support (Fibonacci retracement, horizontal swing low support, Elliott wave theory).

The Stochastic (55,5,3) is seeing the major resistance at 94%. The stochastic's turndown signals a bearish move is starting.

Sell below 1.3528. Set stop loss at 1.3592 and take profit at 1.3423.