USD/CAD is testing the resistance of the falling trend line on the 4-hour chart.
USD/CAD is testing the resistance of the falling trend line on the 4-hour chart. As long as the trend line resistance holds, another fall towards 1.3850 is possible. On the upside, a breakout of the trend line resistance would confirm that the downside movement from 1.4667 (Mar 19 high) had completed at 1.3849 already, then next target would be at 1.4350 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.
Comments
Log in or sign up to join the conversation.