USDCAD: Classic Bearish Reversal Setup
Observe the recent price action of 📉USDCAD.
After testing a major horizontal resistance, the price began consolidating within a narrow range. It subsequently bounced and broke below both the support line of an ascending parallel channel and the horizontal range support.
This breakdown suggests a potential further decline. Key target levels to watch are 1.3874 and 1.3858.
After testing a major horizontal resistance, the price began consolidating within a narrow range. It subsequently bounced and broke below both the support line of an ascending parallel channel and the horizontal range support.
This breakdown suggests a potential further decline. Key target levels to watch are 1.3874 and 1.3858.
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