USDCAD is rebounding near the daily demand zone. So, if the rebound does not fail, the highs can be renewed again. And a retracement came from the weekly supply zone, and even if it rises again, a retracement may come again when it reaches the weekly supply zone. Afterwards, the market can renew its highs as long as it does not stay below the dotted red line drawn in the center of the chart. Conversely, if it stays below that line, it is likely to go down. If it goes down, it will have to come down to the monthly demand zone.
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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.