USDCAD - Daily - Trying to get help from the bulls

FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
Trade Alert

USDCAD recently found good support near the 1.2815 area, marked by the low of the 31st of May. It seems that we could see a bit of retracement back up, but if the 1.2880 resistance line will hold, then it could be seen as a good opportunity for the bears to jump in again.

For us to get comfortable with the upside, at least for the short run, we would need to see a close above the 1.2975 zone, which could then open the path towards higher levels (please see the chart for details).

Always have your SL in place.
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