USDCAD’s upside movement from 1.2803 extended to as high as 1.3110.
USDCAD’s upside movement from 1.2803 extended to as high as 1.3110.
Further rise is still possible and next target would be at 1.3200 area. Near-term support is at 1.3050, as long as this level holds, the uptrend will continue.
On the downside, a breakdown below 1.3050 would indicate that consolidation for the uptrend is underway, then deeper decline towards 1.3000 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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