USDCAD stays in a falling price channel on the daily chart and remains in the downtrend from 1.4667. As long as the channel resistance holds, the downside movement could be expected to continue and the next target would be at the 1.3100 area.
USDCAD stays in a falling price channel on the daily chart and remains in the downtrend from 1.4667. As long as the channel resistance holds, the downside movement could be expected to continue and the next target would be at the 1.3100 area.
Key resistance is at 1.3715, only a break above this level 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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