USDCAD –Could rise from current levels
USDCAD is currently trading near the multiple support zone indicating buying could emerge in the near term. After a brief downtrend since the beginning of February, the pair ended in two consecutive doji formations on 10th and 11th of February signifying that a rebound could be witnessed from current levels. It would be prudent to say that the pair could rise towards 1.2770 and 1.2810 while it sustains above 1.2630.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.