Is it time to add buys in USD/CAD? Detailed analysis below!
Dear traders, after Bank of Canada's rate event yesterday, USD/CAD dropped
to the 1.3321 level. However, the fall was arrested as it is a strong support level.
Based on the current price action, it seems the 1.3320 support level would continue
to hold.
So, if price action becomes bullish at this level and the support level stays
unbroken, traders can consider going long USDCAD@1.3320 with SL below 1.3250
and TP at 1.3650.
to the 1.3321 level. However, the fall was arrested as it is a strong support level.
Based on the current price action, it seems the 1.3320 support level would continue
to hold.
So, if price action becomes bullish at this level and the support level stays
unbroken, traders can consider going long USDCAD@1.3320 with SL below 1.3250
and TP at 1.3650.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.