USDCAD is trading below the moving averages and the downtrend line. It got rejected from the downtrend line last week which suggests that the bears are selling at such levels.
A retest of the support level will be on the cards if USDCAD can't handle these resistance. I think this level will be a good place to buy.
On the flip side, my bearish view will be invalidated if the pair breaks out the downtrend line.If this scenario happens a move to 1.3840 level is possible and will be my target.
Trade Wise and Good Luck,
A retest of the support level will be on the cards if USDCAD can't handle these resistance. I think this level will be a good place to buy.
On the flip side, my bearish view will be invalidated if the pair breaks out the downtrend line.If this scenario happens a move to 1.3840 level is possible and will be my target.
Trade Wise and Good Luck,
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