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cccpKGB1

USDCAD Channel Breakdown Short Setup

Short
U.S. Dollar / Canadian Dollar (OANDA:USDCAD)  
cccpKGB1  
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Support and Resistance Trend Lines Parallel Channel USDCAD CAD USD
4
0
supportandresistance trendline parallelchannel usdcad cad usd
Last week I took a short trade on USDCAD after re-testing the bottom of a large wedge on the daily time-frame.

Since then price has broken down from a smaller channel and offering a similar setup.

Currently testing the underside of the channel.

$1.33 appears to be a solid resistance level. Expecting further price breakdown from current levels.
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