EXNESS - Analytics

    EXNESS

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    USDCAD: consolidation around the level of 1.2985

    Sell on a level breakthrough of 1.2985 with 1.2915 target. Stop loss = 1.3035.

    Reason for the trading strategy

    The USD/CAD currency pair is under pressure against the background of a falling US dollar paired with the euro and the yen. The latter are growing as the funding currencies because of Chinese stock market collapse. The collapse sparked rumors of a possible reduction in market support shares by the Chinese government.

     

    USDCAD, H1

    USDCAD


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