Bearish Setup on USD/CAD
USD/CAD has been on a very tight bearish trend since she broke below the 1.2675-60 support zone, and with Tuesday's bearish rejection, which successfully push the price back to retesting the diagonal resistance area at 1.2675, which stood as the Quasi-support zone for the buyers, before its defeat, the sellers could ultimately turn it to decisive support in other to further their downward trend.
Provide, the sellers successfully drag the price downwardly, the next bearish mark would be 1.2560 January support zone, before any further downward movement would be ascertained.
Looking out for a short position below 1.2630 and take profit at 1.2565.
Provide, the sellers successfully drag the price downwardly, the next bearish mark would be 1.2560 January support zone, before any further downward movement would be ascertained.
Looking out for a short position below 1.2630 and take profit at 1.2565.
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