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

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