Trade idea.
USDCAD is at its key support zone, near the 1.3130 zone. If it gets broken and we see a daily close below that area, we may consider further declines, as it would confirm a forthcoming lower low and could clear the path towards the 1.3000 zone.
If it rebounds from 1.3130 and travels higher, this could confirm a wide range and the rate might continue balancing in that area for some time.
Please see the chart for levels and targets.
Don't forget your stop-loss.
USDCAD is at its key support zone, near the 1.3130 zone. If it gets broken and we see a daily close below that area, we may consider further declines, as it would confirm a forthcoming lower low and could clear the path towards the 1.3000 zone.
If it rebounds from 1.3130 and travels higher, this could confirm a wide range and the rate might continue balancing in that area for some time.
Please see the chart for levels and targets.
Don't forget your stop-loss.
Note
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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.