Strifor || USDCAD-13/03/2024
Preferred direction: SELL
Comment: The outlook for the US dollar against the Canadian dollar in the longer term is quite positive, but before this rise, which is likely to allow new highs in the 1.36000 area, the currency pair will test the area around the 1.34000 level. At the indicated support area, we expect the seller to stop and the beginning of medium-term growth towards the level of 1.36000.
Thus, the immediate prospects will most likely develop in favor of sellers, and at the level of 1.34000 we can expect a reversal towards the level of 1.36000.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: The outlook for the US dollar against the Canadian dollar in the longer term is quite positive, but before this rise, which is likely to allow new highs in the 1.36000 area, the currency pair will test the area around the 1.34000 level. At the indicated support area, we expect the seller to stop and the beginning of medium-term growth towards the level of 1.36000.
Thus, the immediate prospects will most likely develop in favor of sellers, and at the level of 1.34000 we can expect a reversal towards the level of 1.36000.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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