USDCAD- 16Feb2022
On the H4, not many surprises for yesterday's price action. It faced bearish pressure from descending trendline and Fib confluence resistance at 1.27675. USDCAD is range-bound for the time being. For further upside to take place, USDCAD has to close above the descending trendline and 1st Resistance at 1.27675. For the downside case, price have to make a clear break below the 1.26650 before it could go lower.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the H4, not many surprises for yesterday's price action. It faced bearish pressure from descending trendline and Fib confluence resistance at 1.27675. USDCAD is range-bound for the time being. For further upside to take place, USDCAD has to close above the descending trendline and 1st Resistance at 1.27675. For the downside case, price have to make a clear break below the 1.26650 before it could go lower.
This is for personal record purposes only, not financial advise or solicitation of trade.