#USDCAD 05 04 2021
The price of this currency pair has been following a downtrend since April last year. During the fall, it managed to break through the strong resistance level 1.303 and the 2016 resistance line 1.291. Then it continued to fall in trend. The price made at least 6 touches of the main trend lines - the resistance of April 2020 and the support of June 2020. And now it is at the resistance line of 1.255. We expect the price to fall towards the support line from this point. Thus, my final target is the support line at 1.230.
The price of this currency pair has been following a downtrend since April last year. During the fall, it managed to break through the strong resistance level 1.303 and the 2016 resistance line 1.291. Then it continued to fall in trend. The price made at least 6 touches of the main trend lines - the resistance of April 2020 and the support of June 2020. And now it is at the resistance line of 1.255. We expect the price to fall towards the support line from this point. Thus, my final target is the support line at 1.230.