Technical Analysis

USD/CAD Bounced Back


The USD/CAD has managed to increase a little in the yesterday's session, but failed once again to reach the median line (ml) of the minor ascending pitchfork. So the current minor decrease is natural, could retest the lower median line (lml) of the ascending pitchfork, a rejection from there will send the rate much higher on the short term. Is trading near the 1.2150 level, but you should be careful because the US data could bring a high volatility.

Author: MultiBank Exchange Group Website:
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.
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