USDCAD has been trading within the range of 1.3590 and 1.3780 since the start of May 2024.
With the price action indicating a potential rejection of the resistance level, weakness in the DXY could see the USDCAD continue to reverse lower.
A consideration as a trigger for the reversal is if the price breaks through the 23.60% Fibonacci retracement level and the previous swing level at 1.3735.
However, the downside is likely to be limited at the 1.3590 price level, due to the 50% and 38.6% Fibonacci retracement level from the shorter and longer term move forming a confluence with the bullish trendline around the support area.
With the price action indicating a potential rejection of the resistance level, weakness in the DXY could see the USDCAD continue to reverse lower.
A consideration as a trigger for the reversal is if the price breaks through the 23.60% Fibonacci retracement level and the previous swing level at 1.3735.
However, the downside is likely to be limited at the 1.3590 price level, due to the 50% and 38.6% Fibonacci retracement level from the shorter and longer term move forming a confluence with the bullish trendline around the support area.
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这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。