USDCAD is now in the downtrend from 1.3289, the bounce from 1.3114 is likely consolidation for the downtrend.
USDCAD is now in the downtrend from 1.3289, the bounce from 1.3114 is likely consolidation for the downtrend.
Further decline is possible after the consolidation and next target would be at 1.2900 area. Resistance is at 1.3220, only a break of this level could trigger another rise towards 1.3300.
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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