USDCAD is now facing the bottom support trend line of the price channel on its 4-hour chart.
USDCAD is now facing the bottom support trend line of the price channel on its 4-hour chart. Below the channel support could take price to 1.2448 key support level. A breakthrough would indicate that the uptrend from 1.2061 had completed at 1.2598 already.
Then the following downside movement could take price back towards 1.2061 previous low.
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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