Technical analysis of USD/CAD 01/17/2020

The USD/CAD currency pair broke through the support of 1.3050, finding the next one at 1.2950, from which it was again corrected to the 1.3050 area, where it is currently consolidating, forming a signal for forming the “Double Top” figure within the downward channel with a projection target at 1.2800.
Cancellation of the fall option for the pair will be an increase above the level of 1.3330, which will indicate a breakdown of MA100, MA200, the upper line of the downward channel and will mean a possible change in trend on the 1D timeframe.


Created by Joshua Hayn

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