idea on a chart
Canadian Dollar marks third weekly plunge against US Dollar- USD/CAD rallies 1.87%
USD/CAD monthly opening-range taking shape below technical resistance at yearly high
Resistance 1.3849/81 (key), 1.3990-1.40, 1.4115– Support 1.3773, 1.3596-1.3617, ~1.35
The Canadian Dollar has been under assault for the past three-weeks with USD/CAD ripping to key technical resistance at fresh 2024 highs. While the broader outlook remains constructive, immediate advance may be vulnerable here as price attempts to breakout of a multi-year consolidation pattern. Battle lines drawn on the USD/CAD weekly technical charts heading into the August opening-range.
USD/CAD monthly opening-range taking shape below technical resistance at yearly high
Resistance 1.3849/81 (key), 1.3990-1.40, 1.4115– Support 1.3773, 1.3596-1.3617, ~1.35
The Canadian Dollar has been under assault for the past three-weeks with USD/CAD ripping to key technical resistance at fresh 2024 highs. While the broader outlook remains constructive, immediate advance may be vulnerable here as price attempts to breakout of a multi-year consolidation pattern. Battle lines drawn on the USD/CAD weekly technical charts heading into the August opening-range.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.