FX.co ★ Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pairs, Tuesday December 05, 2023.

With the Chikou Span position being below Span B and the CCI indicator having managed to breaks below its three main levels (100, 0, & -100) and being stuck at the -100 to 0 level area on the 4 hour chart, based on these facts in the near future The Lonnie has the potential to weaken down to the level of 1.3456 as its main target and if the momentum and volatility are sufficient to support it, it is possible that the level of 1.3362 will be the next target to be aimed at, however all of these downward scenarios will cancel themselves if they are on their way to the targets. The target previously outlined suddenly saw USD/CAD corrected again and strengthened until it broken above the 1.3660 level.

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