In my previous UsdCad analysis, I said that the pair could fall to 1.3250-1.33 zone support.
Indeed, the pair reached my target and even dropped under this horizontal support.
Now UsdCad is back to this zone, now resistance, and is interesting to see how it will act.
On one hand, UsdCad back above 1.33 would confirm a false break and the pair could resume its long-term up trend with a target at 1.3650, on the other hand, a reversal from this level would expose the recent low and even lead to a break of the ascending trend line.
Indeed, the pair reached my target and even dropped under this horizontal support.
Now UsdCad is back to this zone, now resistance, and is interesting to see how it will act.
On one hand, UsdCad back above 1.33 would confirm a false break and the pair could resume its long-term up trend with a target at 1.3650, on the other hand, a reversal from this level would expose the recent low and even lead to a break of the ascending trend line.
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📈 Join the FREE Forex & Gold Channel
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.