The breakout of USD/CAD through the 1.2631 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, USD/CAD could test 1.2567 within the next 2 days. One should always be cautious before placing a trade, wait for confirmation of the breakout.
Related Posts
Could a large bearish move on AUDNZD be a sign of things to come?
AUDNZD hits 1.0843 after a 0.72% move spanning 11 hours.
EURCAD may be on a start of a new bullish trend after its breakout through this important resistance level
EURCAD has broken through a resistance line. Because we have seen it retrace from this price in the…
A Falling Wedge has formed, AUDJPY is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?
AUDJPY is heading towards the support line of a Falling Wedge and could reach this point within the…