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UsdCad: Testing Weekly Trends!

Weekly Timeframe:

Daily Timeframe:


Weekly Time Frame: We can see price bouncing back in forth in this ranging market. After the fake out of 1.30000 key psychological support, price shot back in range. Weekly is approaching 1.33000 key psychological resistance.

Daily Time Frame: We can see how price is testing our trend line (3rd touch). If price fails to break this key trend line and resistance zone then we can look to sell back down to 1.30000.

Though if price manages to break and close above 1.33000 key psych, we can anticipate new highs to fulfill. The next daily close will give us more insight on what the market may do next.


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