The breakout of USD/CAD through the 1.2484 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 1.2446 within the next 21 hours. One should always be cautious before placing a trade, wait for confirmation of the breakout.
Related Posts
NZDUSD is signaling a possible trend reversal on the intraday charts with price not breaching resistance.
NZDUSD is moving towards a support line which it has tested numerous times in the past. We have…
After testing 0.6495 numerous times, AUDUSD has finally broken through. Can we expect a bearish trend to follow?
AUDUSD has broken through a line of 0.6495. If this breakout holds true, we could see the price…
AUDNZD is quickly approaching the support line of a Channel Down. We expect either a breakout through this line or a rebound.
AUDNZD was identified at around 1.090915 having recently rebounded of the resistance on the 4 hour data interval.…