USDCAD Daily Analysis – Wednesday, April 18

USDCAD broke below 1.2544 support and extended its downside movement from 1.2943 to as low as 1.2526.

As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 1.2450 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

Print Friendly, PDF & Email

Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

Share This Post On

Submit a Comment

Your email address will not be published. Required fields are marked *