USD/CAD Daily Analysis – Wednesday, June 12

USD/CAD stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 1.3564. As long as the trend line resistance holds, the bounce from 1.3240 could be treated as consolidation for the downtrend, further decline to 1.3200 is still possible after the consolidation. Key resistance is at 1.3308, only break above this level 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.


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