The movement of USD/CAD towards 1.3781 price line is yet another test of the line it reached numerous times in the past. We could expect this test to happen in the next 16 hours, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.
Supports and resistances are primary concepts of technical analysis. USD/CAD is heading for an important price of 1.3781 – read about what this could mean for the future.
