Aurum Markets Blog Technical Analysis USDCAD breakout through resistance

USDCAD breakout through resistance

USDCAD breakout through resistance post thumbnail image

USDCAD is once again retesting a key horizontal resistance level at 1.3735. It has tested this level 4 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.

Supported by Upward sloping Moving Average

Target: 1.3814 Entry: 1.3756 Stop: 1.3706

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