USDCAD is now in short-term downtrend from 1.2916.
USDCAD is now in short-term downtrend from 1.2916. Deeper decline is still possible after a minor consolidation and next target would be at the bullish trend line on the daily chart now at around 1.2625.
Near-term resistance is at the falling trend line on the 4-hour chart, only a clear break above the trend line resistance could take the price back towards 1.2916 previous high.
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.
Comments
Log in or sign up to join the conversation.