gbasser

Usd/Cad pennant breakout - pullback potential

Short
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Usd/Cad managed to break away to the topside not before hitting 1.3444 earlier in the day . Fundamentals with oil sliding and a hawkish FOMC were the exclusive drivers in this latest break . But with an overbought RSI a pullback should be expected, as well as a target at 1.3520 1.3540 to cap any sustained gains. If the resistance up here is not surpassed and sustained , price may drop aggressively towards 1.3300 then lower
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.