The USD/CAD is poking its head above a bearish trend line that has been in place since mid-May, in one of the first signs that suggests we may have seen a low in the Loonie. As well as the trend line, the 21-day exponential is also now below price, further suggesting that the tide is turning.
Key levels
Support levels off this daily chart are seen around 1.3695 then 1.3617
Resistance seen around 1.3750 next, followed by the next round handles like 1.38, 1.39 etc.
By Fawad Razaqzada, market analyst with FOREX.com
Key levels
Support levels off this daily chart are seen around 1.3695 then 1.3617
Resistance seen around 1.3750 next, followed by the next round handles like 1.38, 1.39 etc.
By Fawad Razaqzada, market analyst with FOREX.com
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.
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.