USDCAD is now in downtrend from 1.2662. Range trading between 1.2339 and 1.2500 would likely be seen in a couple of days.
USDCAD is now in downtrend from 1.2662. Range trading between 1.2339 and 1.2500 would likely be seen in a couple of days.
Near-term resistance is at 1.2500. As long as this level holds, the downside movement could be expected to continue and next target would be at 1.2050 area. Only break above 1.2500 resistance could bring price back towards 1.2778.
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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