traderpulse

USD/CAD Technical analysis

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
The resistance of 1.33914 seems invincible for the bulls, holding it down for a month.
The pair has now formed a double top pattern at the resistance and broke the critical support of 1.33668 too.
The breakout of the support also yielded a follow through in the RSI indicator, which also formed a double top pattern.
Now, the pair is being resisted by the broken support.
Hence, we expect the pair to move to the support at 1.33370.

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