By: Investija
USDCAD bears overcome bulls position and are succesfully sliding further downside towards support barrier at 1.0205. Below this level, bears can extend their prior movement and reach new lows in a long a run. In order for bears to continue sliding downside, bullish trend line needs to be broken.
At the moment, while negative channel is valid, look for selling options but it should be done with a care while prices remain above bullish trend line. Just when bears will plunge below bullish trend, bears will be more confident and selling opportunities can be considered.
Waiting for a possible breakout at bullish trend line.