USDCAD – Bearish Price Action Continues | Apr 16

USDCAD – ST Bearish Bias Continues (1hr chart)
Recently we talked about the break of the key support and how this turned the risk to the downside. The impulsive and corrective price action moves have been quite consistent.

ST there is a resistance zone between 1.2260 and 1.2320. Weak pullbacks here should be sold and only a daily close above the latter level changes the ST bias a bit. Downside our targets would be 1.2115 and 1.2015.

usdcad

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