Trend_Analyst

USDCAD Which way will it go?

FX:USDCAD   U.S. Dollar / Canadian Dollar
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3
Currently trading within a channel, the congestion area has been tested as support/resistance in the past and could act as support again. Also, currently approaching the lower channel line which should reinforce support around this level. Price could turn up to find resistance around the 1.32000 level before returning to test the lower channel line. Should the price break below the lower channel line, there is possible support around the 1.31000 area, which has acted as support/resistance in the past and is also around the 38.2% FIB level.

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