Sell USDCAD daily chart
After recent highs, the price has now reached strong resistance levels on the daily chart.
first level at 1,3275,with 200 sma and 38.2% Fibonacci retracement.
The price has already reached 1,3299 to test the first bearish trend line.
The second resistance level at 1,3341, the strongest level where the price has tested it more than five times in the past months but failed to breach it.
This resistance wall consists of a 50% Fibonacci retracement, and the peaks formed from previous breakout attempts.
I think selling from 1.3290 levels would be a good idea.
If this level is breached and reach 1.33340, we can go short again with a stop loss above the second descending trend line.
Good luck.
first level at 1,3275,with 200 sma and 38.2% Fibonacci retracement.
The price has already reached 1,3299 to test the first bearish trend line.
The second resistance level at 1,3341, the strongest level where the price has tested it more than five times in the past months but failed to breach it.
This resistance wall consists of a 50% Fibonacci retracement, and the peaks formed from previous breakout attempts.
I think selling from 1.3290 levels would be a good idea.
If this level is breached and reach 1.33340, we can go short again with a stop loss above the second descending trend line.
Good luck.
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