USD/CAD is preparing to resume a decline

The USD/CAD pair, after a weekly decline, formed a significant support at 1.3170-50. This level corresponds to a significant support, which limits the possibility of working out the “double top” formed on the H4 timeframe.

The USD/CAD pair will have the open way to support levels: 1.3100 and 1.3070 in the conditions of breaking through support 1.3170-50. Resistance is located at the levels: 1.3200 and 1.3230. A limiting factor in reducing USD/CAD can be its oversold and fundamental factors.

Read also: “Moving Averange as an indicator for determining the strength of the trend”

Hanzenko Anton

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