USDCAD failed to break above the falling trend line on the daily chart and remains in the downtrend from 1.3385. A further decline is still possible and a breakdown below 1.2961 support could take the price to the 1.2850 area.
USDCAD failed to break above the falling trend line on the daily chart and remains in the downtrend from 1.3385. A further decline is still possible and a breakdown below 1.2961 support could take the price to the 1.2850 area.
Only a clear break above the trend line resistance could signal completion of the downtrend.
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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