USDCAD moved sideways in a trading range between 1.2433 and 1.2598 and is now facing the key support level at 1.2433.
USDCAD moved sideways in a trading range between 1.2433 and 1.2598 and is now facing the key support level at 1.2433.
A breakdown below this level will indicate that the uptrend had completed at 1.2598 already, then the pair will find next support level at 1.2300, followed by 1.2061.
On the upside, a breakout of 1.2598 resistance will suggest that the uptrend has resumed, then the following upside movement could bring the price to 1.2750 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.
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