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

The movement of USDCAD towards 1.3631 price line is yet another test of the line it reached numerous times in the past. We could expect this test to happen in the next 3 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.

Supported by Downward sloping Moving Average

Target: 1.3631 Entry: 1.3668 Stop: 1.3685

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