USD/CAD
The USD/CAD pair is beginning to form a bottom after failing to breach the strong support level around 0.9900. The trend line that accompanied the wave of downwards movements since it began about two weeks ago, will form a buy trigger for us should it be breached from below.
An upwards breach through the trend line is expected to pave the way back to a balance level of 1.0000, and later on even to a resistance level around 1.0070. The stop loss movement can be placed in a relative proximity, slightly under the last local low around 0.9860.
