USD/CAD
The recent downwards movement of the US dollar - Canadian dollar pair has brought it down precisely to the previous low around the psychological level of 1.000. For now, this level had succeeded in breaking the pair's retreat, even forming a strong basis for the buy deals. The positive deviation on the MACD indicator and the fact that a double bottom has been formed together created a high probability for the downside movement.
The positive movement is expected to complete a similar move to that which brought the pair to its low of 1.0000, and, therefore, to ascend to the previous highs around 1.0300. Where the 200-day moving average is set. The recommended exit goal is placed at the major resistance level of 1.0275 Canadian dollars per the US dollar.
