February 9, 2023

Forex Solution

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USDCAD tests a lower trendline on the daily chart

1 min read

Key target for the USDCAD

With the USCAD breaking below its 2018 low price of 1.22455, the price is in more open road. 

Key target for the USDCAD  

Looking at the daily chart of the USDCAD, however, the pair is testing a lower trendline now at 1.2190.  That trendline can next lows from December and again in March.  Will buyers lean/take profit.  Be aware. A move below keeps the door wide open for further downside probing.

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