USDCAD Is Reversing South
Sep 9, 2024

USDCAD

USDCAD is reversing south after an unsuccessful push above 2022 highs, so it appears that pair is back in the range. Currently, we see price coming down impulsively from the upper side of a big 2 year range. As such, more downside will be expected after current rally, which now looks like a higher degree correction as price makes a higher swing low on Friday, suggesting that rally is now a counter-trend, but will ideally stop at 1.36 resistance, or ideally close to 38.2% Fib, at 1.3620.

USDCAD Is Reversing South USDCAD 4H Chart
USDCAD 4H Chart

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