USDCAD- 08Feb2022
On the daily, price once again faced strong bearish pressure from the resistance at 1.27670.
On the H4, price was not able to close above the crucial 1.27670 level. Overall price action is mixed but if oil price pull back from its highs, we could expect a bounce for USDCAD. Stochastic is also at horizontal support where a bounce is most likely.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the daily, price once again faced strong bearish pressure from the resistance at 1.27670.
On the H4, price was not able to close above the crucial 1.27670 level. Overall price action is mixed but if oil price pull back from its highs, we could expect a bounce for USDCAD. Stochastic is also at horizontal support where a bounce is most likely.
This is for personal record purposes only, not financial advise or solicitation of trade.
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