USDCAD has been trading in a consolidating range ever since the initial spike upwards due to oil prices crashing.
Market has been forming lower highs but faced with strong demand at 1.3872-1.3790. Price has once again reached the top of the consolidation range, giving a good opportunity to sell USDCAD again.
Should the current resistance hold, we are expecting price to retest bottom of the consolidating pattern again.
Market has been forming lower highs but faced with strong demand at 1.3872-1.3790. Price has once again reached the top of the consolidation range, giving a good opportunity to sell USDCAD again.
Should the current resistance hold, we are expecting price to retest bottom of the consolidating pattern again.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.