USDCAD May Continue It's Bearish Move

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By Deya Hroob

usdcad


 USDCAD is trading below the moving averages and the downtrend line. It got rejected from the downtrend line last week which suggests that the bears are selling at such levels.

 A retest of the support level will be on the cards if USDCAD can't handle these resistance. I think this level will be a good place to buy.

 On the flip side, my bearish view will be invalidated if the pair breaks out the downtrend line.If this scenario happens a move to 1.3840 level is possible and will be my target.

 Trade Wise and Good Luck,

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