USDCAD extended its downside movement from 1.4048 to as low as 1.3544.
USDCAD extended its downside movement from 1.4048 to as low as 1.3544.
As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.3400 area.
Near term resistance is at 1.3630, a breakout of this level could bring the price back towards the trend line.
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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