USDCAD broke below the rising price channel on the 4-hour chart, suggesting that the upside movement from 1.2951 had completed at 1.3104 already.
USDCAD broke below the rising price channel on the 4-hour chart, suggesting that the upside movement from 1.2951 had completed at 1.3104 already.
A further decline would likely be seen in the coming days and next target would be at 1.2980 area.
Resistance is at 1.3104, only a break above this level could trigger another rise towards 1.3150.
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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