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Chartist-Trading

USDCAD: Testing strong resistance with reversal candles

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
Chartist-Trading  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Chart Patterns USDCAD loonie analysis
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trendanalysis chartpattern usdcad loonie analysis
USDCAD has tested the trendline that contains the downward trend at 1.2370 area. The reversal candles there show that sellers emerged and the picture shows that the pair needs one last leg down towards the previous lows. We are sellers at the 1.2350-70 area with stops above today's high, targeting 1.2320-30 for once more.
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