Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/ZAR met resistance
Trade idea
SELL at 14.18; TP1 14.00; TP2 13.90; SL 14.26
USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages that now provide resistance at 14.25.
The pair closed below the 38.2% Fibonacci level on Wednesday. It is likely to retrace 50% or 61.8% of the December advance.
Elizabeth Belugina
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