Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pairs, Wednesday June 21, 2023.
June 21, 2023 5:22 am
With the CCI indicator being held in the -100 level area and level 0 on the 4-hour chart, the USD/CAD currency pair provides an indication of significant resistance where in price movements the existence of this resistance gives an illustration that a Higher Low occurs at each existing resistance so that from this It can be concluded that The Lonnie has a significant decline where as long as there is no upward correction that exceeds the 1.3325 level, USD/CAD will have the potential to break down to the 1.3177 level and if this level is broken, USD/CAD will potentially fall to the 1.3129-area level. 1.30368 as the main target and 1.3001 level as the next target to be tested.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
With the CCI indicator being held in the -100 level area and level 0 on the 4-hour chart, the USD/CAD currency pair provides an indication of significant resistance where in price movements the existence of this resistance gives an illustration that a Higher Low occurs at each existing resistance so that from this It can be concluded that The Lonnie has a significant decline where as long as there is no upward correction that exceeds the 1.3325 level, USD/CAD will have the potential to break down to the 1.3177 level and if this level is broken, USD/CAD will potentially fall to the 1.3129-area level. 1.30368 as the main target and 1.3001 level as the next target to be tested.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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