The currency pair USDCAD is reaching the level of 1.2400 and moved slowly, actually forming a rollback. Currently, we see a fluctuation within the level around the "bullish" interest. Probably, we can assume temporary changes within the 1.2350 / 1.2400 marks, where the "bears" will try to have the favor on their side, driving prices towards 1.2300 - 1.2250. In case that the "bullish" potential does not fall, then we are expecting a move through a longer line, almost in the same framework as described above. But in this case, it is helpful to focus on the breakdown of the borders.
Key Levels
Resistance - 1.2400; 1.2550; 1.2700
Support - 1.2200; 1.2000; 1.1820.
Signals
- It is recommended to buy the pair at the price above 1.2430, with the prospect to move at 1.2480 / 1.2550.
- Selling pair is recommended at the price below 1.2430, with the prospect to move through 1.2300 - 1.2250.
