USD/CAD has broken through the support line of a Double Top technical chart pattern. Because we have seen it retrace from this line in the past, one should wait for confirmation of the breakout before taking any action. It has touched this line twice in the last 43 days and suggests a possible target level to be around 1.3553 within the next 3 days.
Related Posts
USD/JPY seems to be on its way to support – a possible opportunity?
USD/JPY is moving towards a key support level at 160.7210. This is a previously tested level for USD/JPY.…
USD/JPY seems to be on its way to support – a possible opportunity?
USD/JPY is approaching a support line at 160.8370. If it hits the support line, it may break through…
We expect NZDUSD to trend upwards right now.
Based on the last 12 Balance of Trade events in Australia, NZDUSD may trend upwards for the next…