According to the 4-hour chart, the Loonie is now moving in the upward sloping channel. It seems the price is going to test the lower channel support before it rebounds again to re-test the previous resistance at 1.3028. As long as the price does not brea kout and closes below 1.2742, the bias of the USD/CAD pair is still following the bullish bias.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
According to the 4-hour chart, the Loonie is now moving in the upward sloping channel. It seems the price is going to test the lower channel support before it rebounds again to re-test the previous resistance at 1.3028. As long as the price does not brea kout and closes below 1.2742, the bias of the USD/CAD pair is still following the bullish bias.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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