The USDCAD has breached strong resistance at 1.2560
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 130 pips | Max. 1.2750
Min. 1.2500 |
The US dollar keeps strengthening against the CAD. The breakout of tough resistance at 1.2560 strengthened further uptrend.
Level 1.2560 is currently acting as a strong support. Its re-test followed by the rebound up is a possibility.
Potential growth targets are situated at the round resistance levels of 1.2700, 1.2750, 1.2800.
Alternative scenario: to initiate the downside correction, bears have to break and hold below 1.2560 support.
Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!
The USDCAD has breached strong resistance at 1.2560
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 130 pips | Max. 1.2750
Min. 1.2500 |
The US dollar keeps strengthening against the CAD. The breakout of tough resistance at 1.2560 strengthened further uptrend.
Level 1.2560 is currently acting as a strong support. Its re-test followed by the rebound up is a possibility.
Potential growth targets are situated at the round resistance levels of 1.2700, 1.2750, 1.2800.
Alternative scenario: to initiate the downside correction, bears have to break and hold below 1.2560 support.
Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!