USDCAD is now in short term downtrend from 1.2778. Deeper decline to test 1.2413 support is possible in the coming days.
USDCAD is now in short term downtrend from 1.2778. Deeper decline to test 1.2413 support is possible in the coming days. A breakdown below this level will indicate that the downtrend from 1.3793 (May 5 high) has resumed, then next target would be at 1.2300 area.
Resistance levels are at 1.2690 and 1.2778, only break above these levels could trigger another rise towards 1.3000.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you.
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