How The Situation Affects Usdcad
USD/CAD
the pic still positive but you should expect to see some more correction on the pair
Break of 1.3000 level support last week was taken as a sign of trend reversal. That’s supported by strong resistance from a long term retracement level at 1.3460. below 1.2930 area the trend remains on the downside, further fall should be seen to 1.2830 area, Break of 1.2830 will lead to 1.2740 from there it can continue to 38.2% retracement at 1.2630,strong support stay at 1.2450 area
In the bigger picture,1.1960 support. That is 38.2% retracement of 0.9633 to 1.3456
Break up again 1.3469 would Give approval for more upside like 1.43 area and even to 1.60 area in medium to long term.
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This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice