Market Analysis of USDCAD on Thursday 31 August 2023

2023-08-31 12:54Source:BtcDana

USDCAD TECHNICAL ANALYSIS SHORT TERM VIEW     

 USDCAD has strong support  1.3430 to1.3510  levels strong support  .Stop loss of overall trend is 1.3367 marked by red line.From upside simple abc pattern it has made so it can jump above 1.3640 without touch 1.3367 level .Presently it is good buy in major support for upside direction towards 1.3640 levels.

 QUICK FUNDAMENTAL LOOK                                                                     

Canadian Dollar Expected To Reverse August Depreciation,The Canadian dollar is likely to strengthen versus the USD after this month's USDCAD rally, Bank of America's Howard Du and Carlos Capistran say in a report.

POC = Risk is a part of trading, use caution when placing orders and take market advice only into account.

More