Aurum Markets Blog Technical Analysis Should we expect a breakout or a rebound on USDCAD?

Should we expect a breakout or a rebound on USDCAD?

Should we expect a breakout or a rebound on USDCAD? post thumbnail image

USDCAD is about to retest a key horizontal support level near 1.4429. 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.

Target: 1.4429 Entry: 1.4481 Stop: 1.4503

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