USDCAD broke above the falling price channel on the daily chart, suggesting that the downside movement from 1.3382 had completed at 1.2951 already.
USDCAD broke above the falling price channel on the daily chart, suggesting that the downside movement from 1.3382 had completed at 1.2951 already.
A further rally would likely be seen and the next target would be at 1.3382 resistance, followed by 1.3500 area.
Near term support is at 1.3220, a breakdown below this level could trigger another fall towards 1.3000.
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.
Comments
Log in or sign up to join the conversation.