USD/CAD Analysis for February 10 2023 – Potential for the downside movement
February 10, 2023 9:22 am
Technical analysis:
USD/CAD has been trading upside this morning but I found strong rejection of the key resistance zone, which is good sign for the further downside movement.
Trading recommendation:
Due to the strong rejection of the key resistance zone at 1.3470, I see potential for the downside movement today towards lower reference.
Watch for the potential selling opportunities with the downside objective at 1.3370
Stochastic oscillator is showing fresh bear cross, which is sign for the further downside movement.
Key resistance is set at 1.3470
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
USD/CAD
has been trading upside
this morning but I found strong rejection of the key resistance zone,
which is good sign for the further downside movement.
Trading
recommendation:
Due
to the strong rejection
of the key resistance zone at 1.3470, I see potential for the
downside movement today towards lower reference.
Watch
for the potential selling
opportunities with the downside objective at 1.3370
Stochastic
oscillator is showing fresh bear
cross, which is sign for the further downside movement.
Key
resistance
is set at 1.3470
The material has been provided by InstaForex Company – www.instaforex.com
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