USDCAD failed to break below 1.3028 support and moved sideways in a trading range between 1.3028 and 1.3079.
USDCAD failed to break below 1.3028 support and moved sideways in a trading range between 1.3028 and 1.3079. As long as 1.3079 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.3104, a breakdown below 1.3028 support could take the price to 1.2950 area.
On the upside, a breakout of 1.3079 resistance would indicate that the uptrend from 1.2951 has resumed, then another rise towards 1.3150 could be seen.
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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