USDCAD broke above 1.4250 resistance, suggesting that the downside movement from 1.4667 had completed at 1.3854 already. A further rally would likely be seen in a couple of weeks and the next target would be at the 1.4600 area.
USDCAD broke above 1.4250 resistance, suggesting that the downside movement from 1.4667 had completed at 1.3854 already. A further rally would likely be seen in a couple of weeks and the next target would be at the 1.4600 area.
Support is at 1.3854, only a break below this level could trigger another fall towards the rising trend line on the daily chart.
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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