USD/CAD is waiting for correction
In the context of a general sell-off of the dollar on optimism and correction of positions before the weekend, the USD/CAD pair turned out to be in significant oversold, which can be traced on the main timeframes. Against the background of the decline, this pair returned to the lower border of the upward channel, indicating the potential for growth.
Purchase deals should be considered when forming a reversal and returning above levels 1.3260-80. Significant support levels are located at the levels: 1.3240 and 1.3220, fixing below which cancels the expectations for growth. On the correction and the return of the pair to an uptrend, the test of resistance levels is expected: 1.3340 and 1.3370.
Read also: “CFD on commodities: oil, gold and silver”
Hanzenko Anton
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