I would like to believe that USDCAD is heading lower. The problem is price action is sitting on a short term trendline(green line) and also right smack in the middle of the longer term downtrend(blue line). I am bearish on this pair but wouldn't mind a pullback to add on my short or a restest of 0.9750 in the coming weeks.
The next strong resistance is around 0.9885 in my opinion.
Gaven
forexcanada
The next strong resistance is around 0.9885 in my opinion.
Gaven
forexcanada
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