USDCAD bounced strongly from 1.2623 and broke above 1.2750 resistance. Further rise would likely be seen in the coming days and next target would be at 1.2916.
USDCAD bounced strongly from 1.2623 and broke above 1.2750 resistance. Further rise would likely be seen in the coming days and next target would be at 1.2916.
A breakout of this level will indicate that the uptrend from 1.2061 (Sep 8 low) has resumed, then next target would be at 1.3100 area.
Support levels are at 1.2720 and 1.2623, only break below these levels could trigger another fall towards 1.2400.
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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