Salzworth

Outlook on USDCAD: Bearish play seen

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
On the H1 time frame, a break below the support zone at 1.28300 presents an opportunity to play the drop. Prices are holding below the descending channel as well, in line with the bearish order flow. We could see prices push lower to the next support zone at 1.27700 in line with the graphical low.
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.