The USD/CAD pair extended its growth and now is located at 1.3663 at the time of writing. The uptrend line represents a downside obstacle. As long as it stays above this line, the price could extend its growth.
Now, it challenges the 1.3668 former high (upside obstacle). As you can see on the H1 chart, the rate dropped after reaching this level in the past, so it remains to see how it reacts around it.
USD/CAD Trading Conclusion!
Jumping and stabilizing above 1.3668 activates further growth. This is seen as a buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CAD 1.3668 Key Obstacle!
The USD/CAD pair extended its growth and now is located at 1.3663 at the time of writing. The uptrend line represents a downside obstacle. As long as it stays above this line, the price could extend its growth.
Now, it challenges the 1.3668 former high (upside obstacle). As you can see on the H1 chart, the rate dropped after reaching this level in the past, so it remains to see how it reacts around it.
USD/CAD Trading Conclusion!
Jumping and stabilizing above 1.3668 activates further growth. This is seen as a buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
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