USD/CAD is moving within an ascending price channel for the last few months.
At present, price has hit the top of the channel and a bearish daily candlestick has formed at the channel top.
This gives us a slight bearish bias and the likelihood of a bearish reversal.
Potential sellers can consider selling at 1.3160-1.3220 area. If the reversal does happen, USD/CAD has the
potential to drop towards 1.27 level.
At present, price has hit the top of the channel and a bearish daily candlestick has formed at the channel top.
This gives us a slight bearish bias and the likelihood of a bearish reversal.
Potential sellers can consider selling at 1.3160-1.3220 area. If the reversal does happen, USD/CAD has the
potential to drop towards 1.27 level.
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.
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.