USD/CAD remains under pressure of a downtrend

The USD/CAD pair, after correction at the start of the week, continues to trade in a downtrend, keeping the monthly downtrend, and thus limiting itself in the growth of the upper boundary of the downward channel at the level of 1.2960-70. Also, the growth of this pair at the start of the week unloaded the oversold pair and  opens the way to sales.

Transactions for sale on USD/CAD pair should be considered when fixing below a significant level of 1.2950, ​​that actually corresponds to the range of 1.2950-30. As a result, it will open the road to support levels: 1.2880 and 1.2850. Resistance are the marks: 1.2960 and 1.2980, the test of it will call into question keeping the downtrend.

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Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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