USD/CAD has broken through a resistance line of a Channel Down and suggests a possible movement to 1.3096 within the next 8 hours. It has tested this line in the past, so one should probably wait for a confirmation of this breakout before placing a trade. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 23 hours.
Big movement expected on USD/CAD after a breach of the resistance
