USD/CAD forms a “double bottom”

The USD/CAD pair, after the repeated test of support level 1.3160, formed a “double bottom” pattern, which, after forming a correction against a two-month growth, would indicate the possibility of a return to the ascending channel. Deals for the purchase should be considered on breaking through the zone 1.3210-30, which will open the way to resistance levels: 1.3270 and 1.3300. The levels of main support are located at levels: 1.3180 and 1.3160, updating of it cancels the expectations for growth.

Read also: “Stock Indices: European Union Market”

Hanzenko Anton

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