USDCAD broke below the bottom support trend line of the price channel on the 4-hour chart, suggesting that the upside movement from 1.3063 had completed at 1.3289 already.
USDCAD broke below the bottom support trend line of the price channel on the 4-hour chart, suggesting that the upside movement from 1.3063 had completed at 1.3289 already.
Further decline to test 1.3063 support is possible in the coming days, a breakdown below this level could take the price to 1.2900 area.
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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