USD CAD is under the pressure of downtrend

The USD CAD pair in the face of rising oil prices and negative sentiment on the US dollar continues to maintain a two-week downward channel. After the correction of the dollar, the pair reached significant resistance near the upper boundary of the downward channel.

Safe deals for sale should be considered below levels 1.3330-10.

Levels of support and goals are the marks: 1.3280 and 1.3260. Stop loss should be behind resistance levels: 1.3350 and 1.3370.

Read also: “Fundamental analysis: interest rate and its impact on the exchange rate”

Hanzenko Anton

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

Topical articles of the trader’s blog:

1. World reserve currencies and their popularity
2. Stock indices and their impact on the Forex market
3. World central banks are preparing for lower rates

Current Investment ideas:

1. Johnson & Johnson shares are growing again! Connect to an investment idea now!
2. CAT shares give SUPER-opportunity to earn in April!
3. Citigroup Inc. shows good potential for the growth. And on this we can earn! Get connected!