FX.co ★ USD/CAD: downside continuation below 1.3634

USD/CAD Sideways Movement!

USD/CAD is trading at 1.3658 at the time of writing. It is trading somehow sideways in the short term after dropping below the uptrend line. As you can see on the h1 chart, the rate failed to jump above the 1.3803 upside obstacle signaling strong sellers.

The 1.3634 former low represents a downside obstacle. After its strong downside movement, temporary growth was natural.

USD/CAD Trading Conclusion!

Dropping and stabilizing below 1.3634 activates further drop and brings new selling opportunities.