USDCAD is facing resistance of the falling price channel on the daily chart. As long as the channel resistance holds, the downside movement from 1.4667 could be expected to continue and the next target would be at 1.3000.
USDCAD is facing resistance of the falling price channel on the daily chart. As long as the channel resistance holds, the downside movement from 1.4667 could be expected to continue and the next target would be at 1.3000.
Key resistance is at 1.3715, a break of this level would indicate that the downside movement had completed at 1.3314 already, then the pair would find resistance at around 1.4000.
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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