USD/CAD Daily Analysis – Monday, Feb. 4

USD/CAD extended its downside movement from 1.3374 to as low as 1.3068. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.3000 area. Only a breakout of the trend line resistance could signal completion of the downtrend.

USDCAD 4-hour chart

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.