USDCAD broke above the top of the falling price channel and is now in the uptrend from 1.2993. A further rally will likely be seen in a couple of weeks, and the next target would be at around the 1.3600 area.
USDCAD broke above the top of the falling price channel on the daily chart and is now in the uptrend from 1.2993. A further rally will likely be seen in a couple of weeks, and the next target would be at around the 1.3600 area. Near term support is at 1.3200, and only a break below this level could trigger another fall towards 1.2900.
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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