Technical analysis of USD/CAD 11/06/2019

USD/CAD currency pair is developing a downward movement. At this point, the pair has worked upward correction within the channel, having found resistance in the zone of 1.3200 (MA100) where it continues to consolidate.

There is reason to expect continued correctional growth of the pair to the level of 1.3270 (MA200) and the intersection of trend lines, after what continued decline of the pair within the channel below 1.3040.

Cancellation of the reduce option of USD/CAD after correction will be an increase above the level of 1.3300, what will indicate a breakdown of MA200 and the upper line of the downward channel.

USDCAD_STPDaily

Created by Joshua Hayn

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