USD/CAD continues to trade within a defined sideways channel, following a strong rejection near the 1.3925 resistance zone. The recent formation of a lower high has pushed price into the 1.3764–1.3693 support area, where buyers are attempting to hold the line.
A bounce from this demand zone could lead to a short-term recovery toward 1.3850, but the overall structure remains corrective. A clear break above the descending trendline would be needed to shift the momentum back in favor of the bulls and confirm a broader reversal.
A bounce from this demand zone could lead to a short-term recovery toward 1.3850, but the overall structure remains corrective. A clear break above the descending trendline would be needed to shift the momentum back in favor of the bulls and confirm a broader reversal.
Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.