FX.co ★ USD/CAD signals strong sellers

USD/CAD 1.3503 Downside Obstacle!

As you can see on the H1 chart, the pair dropped below the uptrend line signaling that the swing higher ended and that the sellers could take the lead. Now, it is traded at 1.3529 at the time of writing. It stands above 1.3503 former low which represents a downside obstacle.

As long as USD/CAD stays under the downtrend line, the currency pair could extend its downside movement.

USD/CAD Trading Conclusion!

Dropping and stabilizign below 1.3503 activates a downside continuation and could bring new selling opportunities.