As you see in the Daily time frame, USDCAD is in a strong downtrend and had a big drop in the past few weeks.
Currently, price is in the exhaustion phase and had a retest on the red resistance zone and got rejected.
On the other hand, price is between the resistance and support areas which is a no trade zone and we should wait for the momentum.
If price failed to break the red resistance area and dropped towards the yellow support zone around 1.3220 again, we can expect a continuation on the downside move to the next support level at 1.30
Currently, price is in the exhaustion phase and had a retest on the red resistance zone and got rejected.
On the other hand, price is between the resistance and support areas which is a no trade zone and we should wait for the momentum.
If price failed to break the red resistance area and dropped towards the yellow support zone around 1.3220 again, we can expect a continuation on the downside move to the next support level at 1.30
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.