USD/CAD: detailed breakdown and the next possible scenario

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
As it can be inferred from the 8H timeframe chart of USD/CAD , some sort of a sideways-moving range has been formed and the price is currently consolidating at the lower boundary of it.

Considering a number of factors, we strongly believe that the price will bounce off the local area of support and reach the zone of resistance plotted on the graph.

Interested in receiving trades/signals, education and tons of other quality content? Then shoot us a message on Telegram @investroycontact🧙

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.