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25.08.202117:14 विदेशी मुद्रा विश्लेषण और समीक्षा: USDCAD tests key trend line support

After the warning from last Friday our expectations for USDCAD were to see price move close to the upward sloping red trend line support. Price today reached the red support trend line and is bouncing. Current price levels favor bullish positions as the risk reward ratio favors bullish exposure. The risk to bulls is to see price break below 1.2570 while risking 50-60 pips.

Exchange Rates 25.08.2021 analysis

Red line - support trend line

USDCAD has reached again the red support trend line. Last time price was just above the trend line, a strong move higher above 1.29 followed. Will we see a repeat of this price action? As long as price is above 1.2570, bulls have nothing to fear. Breaking below it will be a bearish sign.

*यहां पर लिखा गया बाजार विश्लेषण आपकी जागरूकता बढ़ाने के लिए किया है, लेकिन व्यापार करने के लिए निर्देश देने के लिए नहीं |

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