USDCAD’s downside movement from 1.4667 extended to as low as 1.3132. As long as the price is in the falling price channel on the daily chart, the downside movement could be expected to continue and the next target would be at the 1.3000 area.
USDCAD’s downside movement from 1.4667 extended to as low as 1.3132. As long as the price is in the falling price channel on the daily chart, the downside movement could be expected to continue and the next target would be at the 1.3000 area.
Resistance is located at the top of the channel, a breakout of the channel resistance could bring the price back toward 1.3700.
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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