USDCAD has been continuing its retracement after finding support early this week.
However, price is soon reaching a supply zone, which coincides with the 68.2% fibo level. Should price be resisted here, it would be a good opportunity to short USDCAD again. If price were to break above this zone, next level of resistance could be seen at previous major consolidation, around 1.3935 - 1.3880.
However, price is soon reaching a supply zone, which coincides with the 68.2% fibo level. Should price be resisted here, it would be a good opportunity to short USDCAD again. If price were to break above this zone, next level of resistance could be seen at previous major consolidation, around 1.3935 - 1.3880.
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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.