AdrianRaymondFX

USDCAD testing long-term trend support

Long
FX:USDCAD   U.S. Dollar / Canadian Dollar
So long as USDCAD trades above 1.31 this week, there's a case to be made for a bullish reversal on this trend line support (despite the recent spike in oil prices). If prices continue falling past 1.31 without any rapid sell-off, I will probably disregard this trend line . A strong break below would expose the 1.27/28 area in the near term. I would target 1.35/36 should prices reverse at the indicated support level .