Yesterday I draw attention to a potential double top for UsdCad.
Indeed, after an anemic and short-lived rally to 1.3584, the pair broke under the neckline's support and dropped like a stone after.
At the time of writing the price is 1.3440 and in the eventuality of a correction, this should be used as a selling opportunity.
In conclusion, I remain strongly bearish UsdCad, and rallies (if they will exist) towards 1.35 should be sold.
Neck-line support is now resistance and should offer us a point of negation and the target is 1.33 zone support
Indeed, after an anemic and short-lived rally to 1.3584, the pair broke under the neckline's support and dropped like a stone after.
At the time of writing the price is 1.3440 and in the eventuality of a correction, this should be used as a selling opportunity.
In conclusion, I remain strongly bearish UsdCad, and rallies (if they will exist) towards 1.35 should be sold.
Neck-line support is now resistance and should offer us a point of negation and the target is 1.33 zone support
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