Remaining below the key resistance levels 1.2450, 1.2825, in fact, USD / CAD is in the bear market zone. A breakdown of the support level of 1.2160 (Fibonacci level 50% of the downward correction in the wave of USD / CAD growth from 0.9700 to 1.4600) will finally return USD / CAD into a long-term bearish trend. So far, everything is shaping up in favor of short positions and further decline (see Current Fundamental Analysis and Market Expectations)
Support levels: 1.2160, 1.2100
Resistance levels: 1.2214, 1.2297, 1.2365, 1.2440, 1.2480, 1.2636, 1.2715, 1.2740, 1.2825
Trading scenarios
Sell Stop 1.2140. Stop-Loss 1.2220. Take-Profit 1.2100, 1.2000
Buy Stop 1.2220. Stop-Loss 1.2140. Take-Profit 1.2297, 1.2365, 1.2440, 1.2480, 1.2636, 1.2715, 1.2740, 1.2825
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**)USD/CAD: Current Fund mental Analysis and Market Expectations
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