USD/CAD forms a double top

The USD/CAD pair on the move in the downtrend and the formation of the figure “double top” keeps the potential to decline. Confirming factor for what is the general decline of the US dollar and the promotion of negotiations on the NAFTA trade agreement.

Pairing USD/CAD below support zone 1.2980-70 will open the way to support levels: 1.2940 and 1.2920-00. Resistance is located at the levels: 1.3000-20 and 1.3040.

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Hanzenko Anton

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