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

An emerging Channel Down has been detected on USDCAD on the 1 hour chart. There is a possible move towards 1.3819 next few candles. Once reaching resistance it may continue its bearish run or reverse back to current price levels.

Supported by Downward sloping Moving Average

Target: 1.3819 Entry: 1.3863 Stop: 1.3911

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