It's important to notice that the level of 1.3215 acts as a medium term support and market participants can start to buy in at current levels which suggests that this time is a good opportunity to go long the pair.
On the other hand, USD bears might keep the pressure in the pair and break the support line with first target in the range between 1.3195-1.3180.
Today the FED will be speaking on the rate increase and the event will have an impact on all markets.
Chart: USD/CAD H4
It reached a low at 1.3190.
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ReplyDeleteI think it will eventually fall to 1.2850.
ReplyDeleteVery accurate assessment!
ReplyDeleteGood drop.
ReplyDeleteVery helpful analysis.
ReplyDeleteGood point! I'll keep an eye on it.
ReplyDeleteDownward risk remains.
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