USD/CAD broke resistance zone

USD/CAD broke resistance zone

  • USD/CAD broke resistance zone
  • Next buy target 1.3200

USD/CAD continues to rise after the earlier breakout of the resistance zone lying between the key resistance level 1.2900 (which has been reversing the price from the end of September) and the 50% Fibonacci correction of the previous sharp downward impulse from May. The breakout of this resistance zone strengthened the bullish pressure on this currency pair. USD/CAD is expected to rise further toward the next buy target at the next resistance level 1.3200.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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