The currency pair is trading at 1.3221 at the time of writing. It moves somehow sideways in the short term after jumping above the downtrend line. Technically, breaking above the downtrend line announces that the downtrend ended and that we may have an upside reversal.
From the technical point of view, the former high of 1.3230 represents an upside obstacle and target.
USD/CAD Trading Conclusion!
Jumping and stabilizing above 1.3230 activates further growth and is seen as a buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CAD 1.3230 Key Obstacle!
The currency pair is trading at 1.3221 at the time of writing. It moves somehow sideways in the short term after jumping above the downtrend line. Technically, breaking above the downtrend line announces that the downtrend ended and that we may have an upside reversal.
From the technical point of view, the former high of 1.3230 represents an upside obstacle and target.
USD/CAD Trading Conclusion!
Jumping and stabilizing above 1.3230 activates further growth and is seen as a buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
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