Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/CAD paused after a breakout
Trade ideas:
BUY 1.3445; TP 1.3535; SL 1.3425
BUY 1.3550; TP 1.3650; SL 1.3530
This week USD/CAD has broken above the recent trading range. The long-term uptrend remains in place, although bullish momentum isn’t very strong. The pair formed a small shooting star candlestick on D1. It means that it can revisit lower levels before returning to resistance at 1.35. The key support is located at 1.3435 (61.8% Fibo retracement of the December-February decline).
Elizabeth Belugina
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