USD/CAD pair returns to downtrend

The USD/CAD pair, under the background of the sale of the American dollar and rising oil prices, was under pressure. As a result, the pair returned to the downtrend of recent weeks and continued to form a “double top” pattern. The limiting factor is the oversoldness of the American dollar and the closing of the week.

Entry for sale on the USD/CAD pair is to be found in the range of 1.3340-20.

Significant support and goals are located at the levels: 1.3290 and 1.3260. The resistance and the upper boundary of the channel are the marks: 1.3350 and 1.3370.

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Hanzenko Anton

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