USDCAD dropped sharply to 1.3180 area, breaking below the bullish trend line on the 4-hour chart, suggesting that the upside movement from 1.3041 had completed at 1.3327 already.
USDCAD dropped sharply to 1.3180 area, breaking below the bullish trend line on the 4-hour chart, suggesting that the upside movement from 1.3041 had completed at 1.3327 already. Further decline could be expected after a minor consolidation and next target would be at 1.3100 area.
Near term resistance is at 1.3230, as long as this level holds, the downtrend will continue.
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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