HomeContributorsTechnical AnalysisUSDCAD Faces Further Bull Pressure On Correction

USDCAD Faces Further Bull Pressure On Correction

USDCAD faces further bull pressure on correction. Support comes in at the 1.3100 level where a break will aim at the 1.3050 level. Further down, support comes in at the 1.3000 level where a turn lower may occur. But if further weakness is triggered support comes in at the 1.2950 level. Conversely, resistance lies at the 1.3150 level where a violation will target the 1.3200 level. Further up, resistance resides at the 1.3250 level and then the 1.3300 level. All in all, USDCAD looks to recover further higher.

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FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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