Aurum Markets Blog Technical Analysis USDCAD approaching important level of 1.3771

USDCAD approaching important level of 1.3771

USDCAD approaching important level of 1.3771 post thumbnail image

USDCAD is heading towards 1.3771 and could reach this point within the next 2 days. It has tested this line numerous times in the past, and this time could be no different, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

Supported by Downward sloping Moving Average

Target: 1.3771 Entry: 1.3794 Stop: 1.3802

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