USD/CAD Price Analysis: Bears take on key support structures, but bulls are lurking USDCAD Technical Analysis
The break of the near-term resistance, as the chart below shows, leaves prospects of an imminent move higher:When moving to the lower timeframes, such as the 4-hour chart, the structure is clear and we need to get below this near-term support as follows:
In doing so, the bulls could be compelled to move in at a discount considering the recent major breakout. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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