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YourLazyTrader

Is it time to add buys in USD/CAD? Detailed analysis below!

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
YourLazyTrader  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis USDCAD usdcadshort usdcadlong usdcadanalysis usdcadforecast usdcadsell
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trendanalysis chartpattern beyondta usdcad usdcadshort usdcadlong usdcadanalysis usdcadforecast usdcadsell
Dear traders, after Bank of Canada's rate event yesterday, USD/CAD dropped
to the 1.3321 level. However, the fall was arrested as it is a strong support level.

Based on the current price action, it seems the 1.3320 support level would continue
to hold.

So, if price action becomes bullish at this level and the support level stays
unbroken, traders can consider going long USDCAD@1.3320 with SL below 1.3250
and TP at 1.3650.
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