USDCAD Price Analysis: Bulls are hanging on by a thread above 1.3300 – by fx_ross USDCAD Technical Analysis
Bulls need to clear 1.3380 for the prospects fo a firmer run to 1.3550. , the price indeed moved in on the targetted area. However, the bears were quick to pounce on the rally and we are back to square one as the following illustrates:
A break of the support was eyed as a catalyst that would open up the way to dynamic trendline support.USDCAD update The M-formation is a reversion pattern and so long as the bulls can get above 1.3380 and then 1.3420, there will be prospects of a move into the price imbalance and 1.3550 will be vulnerable.
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