Technical analysis of USD/CAD 04/12/2019

The USD/CAD currency pair moves in a “triangle” shape on a 4H timeframe. At this point, the price is in the middle of the figure at the level of 1.3350. If quotes decline and break through the support area at 1.3250, then it is highly likely that the price will decline to 1.3100. If quotes rise and break the resistance area at 1.3450, then the price is more likely to work out the level of 1.3650.

In favor of the direction of quotes in the framework of the development of the figure will be a test of the support and resistance areas on the RSI indicator.


Created by Joshua Hayn

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