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The USD/CAD on a bullish reversal

The USD/CAD on a bullish reversal

Information is not investment advice

The USD started the day dropping against the Canadian dollar. On the H1 chart of USDCAD, the 1.3230 mark was reached forming the local support level. With the RSI crossing the 30%, the traders have a good chance to open longs as the market is likely to get a bullish push. The resistance levels to be met in this direction may be placed at 1.3250, 1.3260 and 1.3266. A scenario of the market reversal downwards would have the second support level at 1.3214 on its way.

USDCADH1.png

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