Technical analysis of USD/CAD 05/28/2021

USD/CAD currency pair is showing a downward correction within an uptrend on the monthly timeframe.
Now the pair is trading at the level of 1.2000 (50% Fib), which is a key support from where the pair may resume its growth with the nearest target in the area of 1.2600.
If quotes go below the level of 1.2000 (50% Fib), it will mean a continuation of the downward correction to the area of 1.1600 (61.8% Fib).

USDCAD_STPMonthly

Created by Joshua Hayn

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