USDCAD on daily Timeframe

19 ביוני 2023

We can see that the price is at a very strong resistance area, the daily candle has opened below the resistance line, and we are waiting to see what will happen in the upcoming day aiming toward a bearish move if the price was stable below the Horizontal strong resistance line. The alternative scenario is if the price was stable above the resistance line 1.3227 we will be looking for a Bullish move toward 1.3383.

We also see a divergence that supports the downward movement.

Trade safely