Aurum Markets Blog Technical Analysis USDCAD – getting close to support of a Channel Down

USDCAD – getting close to support of a Channel Down

USDCAD – getting close to support of a Channel Down post thumbnail image

A Channel Down pattern was identified on USDCAD at 1.364325, creating an expectation that it may move to the support line at 1.3619. It may break through that line and continue the bearish trend or it may reverse from that line.

Supported by Downward sloping Moving Average

Target: 1.3619 Entry: 1.3643 Stop: 1.3676

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