USD/CAD is moving towards a line of 1.2898 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If USD/CAD continues in its current trajectory, we may see it move towards 1.2898 within the next 20 hours.
Important price line being approached by USD/CAD. This price has been tested numerous times before.
