The USDCAD pair topped back in October and has turned sideways inside a Rectangle pattern since the November 15 Low. With the 1D MA50 (blue trend-line) used as the Pivot, the 1D MACD indicator can offer a confirmed buy and sell entry when it makes a Bullish and Bearish Cross respectively. Notice when Support 1 was created (previous High turned into Low), hence we project Support 2 to be around 1.30750.
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.