The USD/CAD price has recently experienced an interesting movement. After going through an ascending wave and reaching a resistance level, the price broke below the ascending trend line. This break below the trend line has raised concerns among traders, as it may indicate a potential reversal in the market. Both the RSI and MACD indicators are showing bearish signals, further supporting the notion that a bearish wave could be happening. Traders will be monitoring the situation closely, as any further price drops could confirm the bearish trend and lead to a potential selling opportunity.
• There is a resistance level at 1.35200 followed by resistance at 1.35500 and 1.35850
• There is a support level at 1.34400. Below, there is 1.33760 and 1.33000.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
Comments are closed.
