USD/CAD Upside Seems Over!
The USD/CAD pair dropped below the uptrend line signaling that the upside movement ended and that the sellers could take the lead. Personally, I've drawn a downtrend line, so as long as it stays under this line, the price could drop deeper. The downtrend line represents an upside obstacle.
The 1.2821 former low stands as a downside obstacle. It remains to see how it reacts around this level. Staying above it and jumping above the downtrend line may announce that the downside movement ended.
USD/CAD Trading Conclusion!
Dropping and stabilizing below 1.2821 could confirm a downside continuation and could bring new selling opportunities.
