USDCAD → One step away from distribution

6 Jun

USDCAD is recovering amid the dollar's growth. Unemployment news is ahead. A return of the price to the buying zone may support the currency pair.



Against the backdrop of the dollar's growth, a change in the market phase is forming (unconfirmed). The price has stopped updating lows and is forming an eql, from which it is breaking out of the downtrend. The initial retest of liquidity at 1.366 may end in a correction. However, a quick retest and consolidation of the price above the level will confirm the change in sentiment

Resistance levels: 1.3686, 1.3732
Support levels: 1.3675, 1.366

Despite the fact that the price broke the downward resistance, the currency pair is still under pressure from sellers who are waiting for the price to fall from 1.3686. A breakout, a change in market sentiment to bullish, and consolidation above 1.3675-1.3686 will confirm readiness for a recovery. Zones of interest: eqh 1.3732

Best regards, R. Linda!

6 Jun

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