USDCAD Analysis August 29, 2020
On the weekly timeframe we are falling into a support/demand zone. Overall we are bullish but price has been descending for quite some time deep into this retracement. Until we see a break on the 4hr at least we will continue to take selling opportunities. There is a nice confluence areas at the 61.8% fib level for price to pullback to and reject. We will look for selling opportunities along this area.