USDCAD has been on a steep descend recently breaking a long-term demand zone. However, price can be observed to be slowing down, while approaching the next demand zone. Should price be supported at this level, we could expect a larger pullback. Price is currently still being resisted by falling trendline, thus we could still sell USDCAD to the next demand zone.
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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.