FX.co ★ USD/CAD Buying Opportunity?

USD/CAD moves sideways between 1.2173 and 1.2068 levels. An upside breakout from this range could signal further growth, while a downside breakout may indicate a deeper decline.

Jumping above the downtrend line signaled that the pair could develop a swing higher. A new upwards movement will be confirmed by a breakout and stabilization above the 1.2173 level.

On the other hand, dropping below 1.2068 static support, the downside obstacle could indicate a potential decline towards the 1.2000 psychological level.

Trading Conclusion!

Increasing and passing above 1.2173 could really signal more gains towards the 1.2300 psychological level.