USDCAD Daily Analysis – Wednesday, May 16

USDCAD remains in the downtrend from 1.2997, the bounce from 1.2728 is likely correction for the downtrend.

Another fall could be expected after the correction and a breakdown below 1.2728 support could trigger further downside movement towards 1.2500.

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.