USD/CAD Moving in Downward Channel.

Currently, USD/CAD is trading at 1.3124. The pair is trading in downward resistance and support channel and it may reverse back from here, as the price has already touched resistance level. The price may rebound back to the support level if it doesn't break the resistance level at 1.3140. If the price goes below 1.3068 level then it may touch the support level at 1.2954. Do have a closer watch on this pair usually channel trades give a good risk/reward ratio.

Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.

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Thank you,

Rishikesh Lilawat