USDCAD - ST Corrective Structure After Bearish Price Action | Jul 10

usdcad - corrective structure

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USDCAD – Corrective Structure After Bearish Move. Further Downside? (1hr chart)

Price Action Context

After shedding about 300 pips in the last few weeks of June, the pair has formed a ST corrective structure at the bottom of this trend between 1.3045 and 1.3142.

Trending Analysis

Bearish ST while inside the corrective structure. Watch the break for next directional move.

Key Support & Resistance Levels

R: 1.3142, 1.3212

S: 1.3045, 1.3000…

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