Technical alert: USDCAD

12:42 PM June 29, 2020

USDCAD bounced off the key resistance area at 1.3730 last week. The zone is marked with the upper limit of 1:1 structure, the downward trendline as well as previous price reactions. According to a classic technical analysis, as long as the price sits below this resistance, the main trend remains downward. The nearest key support to watch lies at 1.3415

USDCAD D1 interval. Source: xStation5


Trading CFDs on a leveraged basis involves a significant amount of risk. They may not be suitable for everyone, so please ensure you fully understand all of the risks.

Forex and CFDs are leveraged products and can result in losses that exceed your deposits. Please ensure you fully understand all of the risks.

Losses can exceed deposits