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USD/CAD: a pause before the move
Information is not investment advice
USD/CAD is consolidating after breaking above the bearish “wedge”. The pair has bullish dynamics since the start of June. However, it ran into the resistance of the 200-period MA on the H4. As a result, bullish trades will become preferable only if the pair breaks above the previous high at 1.3715. Otherwise, the price will retest June support line in the 1.3600 area and try to get to 1.3550. News from Canada and comments from the Fed’s Chair Powell later on Tuesday will add to the pair’s volatility.
Trade ideas for USD/CAD
BUY 1.3720; TP 1.3800; SL 1.3700
SELL 1.3635; TP 1.3605; SL 1.3645
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