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USD/CAD: detailed breakdown and the next possible scenario

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Dolar A.S. / Dolar Kanada (OANDA:USDCAD)  
Investroy  
OANDA:USDCAD   Dolar A.S. / Dolar Kanada
Support and Resistance Trend Analysis Supply and Demand USDCAD priceaction Technical Analysis Forex forextrading investroy
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supportandresistance trendanalysis supplyanddemand usdcad priceaction technicalanalysis forex forextrading investroy
As it can be inferred from the 8H timeframe chart of USD/CAD, some sort of a sideways-moving range has been formed and the price is currently consolidating at the lower boundary of it.

Considering a number of factors, we strongly believe that the price will bounce off the local area of support and reach the zone of resistance plotted on the graph.
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