Cabana Capitals Blog Technical Analysis Possible breach of support level by USDCAD

Possible breach of support level by USDCAD

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USDCAD is heading towards the support line of a Channel Up. If this movement continues, the price of USDCAD could test 1.3616 within the next 2 days. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.

Target: 1.3616 Entry: 1.3682 Stop: 1.3726

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