Recently, USD/CAD has been trading downwards. As I expected, the price tested the level of 1.3142. According to the H1 time frame, I found a breakout of the bearish flag pattern, which is a sign that sellers are in control. I also found a strong downward trend in the background and my advice is to watch for potential selling opprtunities. The downward target is set at the price of 1.3060.
Resistance levels: R1: 1.3226R2: 1.3263 R3: 1.3300
Support levels: S1: 1.3150S2: 1.3111S3: 1.3075 Trading recommendations for today: watch for potential selling opportunities.
