What an interesting situation for the loonie. The primary trend is still up, since the price was rejected from the trend line. An up side move is also sustained by the Falling Wedge, drawn during the past two months. A break above 1.0800/0837 would raise the probability for the US dollar to recover the loss.
On a lower time span a break below 1.07100 could mean that bears are ready to act again. In this case I will see a target around 1.0600.
On a lower time span a break below 1.07100 could mean that bears are ready to act again. In this case I will see a target around 1.0600.
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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.