USD/CAD: ranging breakdown. The pair is on breakdown crossed Senkou Span line which is border between the primary bullish and the primary bearish on the chart. Price is located inside Ichimoku cloud in the ranging area within the following key support/resistance levels:
- 1.3370 resistance located far above Ichimoku cloud in the bullish area of the chart, and
- 1.3223 support level located below Senkou Span line in the ranging bearish area.
Absolute Strength indicator's data is estimating the bearish trend to be contining. Chinkou Span line crossed the price from above to below for the bearish breakdown.
- if the price breaks 1.3370 resistance so the bullish trend will be continuing;
- if the price breaks 1.3223 support level so the reversal of the price movement from the primary bullish to the primary bearish condition will be started;
- if not so the price will be moved within the channel.
| Resistance | Support |
|---|---|
| 1.3370 | 1.3223 |
| N/A | N/A |
