Wed, Feb 08, 2023 @ 16:57 GMT
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USD/CAD Could Turn To The Downside

Price is trading in the red on the short term and tries to retreat after the minor rebound. Technically is expected to drop aggressively in the upcoming period if will really fail to retest the upper median line (uml) of the descending pitchfork. Now is pressuring the 1.2460 static support (resistance turned into support).

Could reach also the median line (ml) of the blue ascending pitchfork, a valid breakdown below this obstacle will announce a further drop. Only a valid breakout above the upper median line (uml) will signal a further increase.

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MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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