USDCAD is moving towards a line of 1.3786 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If USDCAD continues in its current trajectory, we may see it move towards 1.3786 within the next 19 hours.
Supports and resistances are primary concepts of technical analysis. USDCAD is heading for an important price of 1.3786 – read about what this could mean for the future.
