Here we have a nice sell setup in USDCAD. The pair has broken below the previous swing low to trade at the lowest level since February 6, being in an overall downtrend since the beginning of the year. Just like in EURUSD, we can see USD weakness, combined with a rather strong CAD that benefits from rising oil prices. Recent lower highs on the H4 chart support our view. If the resistance around 1.3200 shows to hold, I would consider a sell setup.
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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.