USDCAD broke above the falling price channel on the daily chart, indicating that the downside movement from 1.4667 had completed at 1.2993 already.
USDCAD broke above the falling price channel on the daily chart, indicating that the downside movement from 1.4667 had completed at 1.2993 already.
A further rally would likely be seen in a couple of weeks and the next target would be at 1.3600 area.
Near term support is at 1.3200, 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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