By: Investija
Breakout at resistance level of 1.3646 occurred. While candles remain above resistance, possible bulls recovery can be initiated. However, despite this bulls action, waiting action still holds and bears are in better position. At the moment low trading range should be formed near resistance barrier in order to confirm bulls strength.
USDCAD bears are trying to drag the price downside from a formed consolidation which remains between support at 1.0282 and resistance at 1.0346. Below support level bears can get more confidence and slide further downside. At the moment bulls mission is to bring price back to resistance barrier. Waiting action still remains.