The USDCAD is currently situated within a downward trend channel, having broken through its horizontal support zone, which has now turned into resistance. If the price attempts to surpass this horizontal resistance, it might face rejection at the upper channel resistance. Let's observe what happens.
Trade active
The price getting rejected from the resistance ,, let us seeTrade closed: target reached
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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.