Is the channel going to hold for the USDCAD?
The dollar cad tested the bottom of the channel like we predicted and moved up higher, it has now tested the top of the channel and faced some rejection, are we going to see a break out?
BEAR CASE
Until proven otherwise, our bias is to the downside. We expect to see it test the bottom of the channel once more and if it faces rejection there or before there, we know a major upmove is coming for this pair.
BULL CASE
If a breakout happens, we're targeting 127 to put up some resistance.
BEAR CASE
Until proven otherwise, our bias is to the downside. We expect to see it test the bottom of the channel once more and if it faces rejection there or before there, we know a major upmove is coming for this pair.
BULL CASE
If a breakout happens, we're targeting 127 to put up some resistance.