Trading Conditions
Products
Tools
USDCAD is challenging important long-term support levels. Bulls need to step in now, otherwise we could see price move below 1.30 soon, even this week. Such a break down could lead to 1.27 and would cancel any scenario for a move towards 1.35.
Red line- support trend lineUSDCAD price is right above the red trend line support at 1.3125. The RSI has already broken this support level. This is a bearish sign. This increases the chances of a move lower at least towards 1.30. Long-term support is found at 1.30. Breaking below it will open the way for a move towards 1.28-1.27. Bulls need to recapture the 1.3240 level in order to keep hopes for 1.35 alive.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.