USD/CAD Price Analysis: Bears run into support but eye a continuation towards 1.3450 USDCAD Technical Analysis
As seen, USD/CAD is meeting a support area and leaving behind an M-formation which is a reversion pattern and would be expected to see the price return to the neckline for a retest in due course. The ultimate objective is a retest of the trendline support that meets horizontal support near 1.3250 in the long term. This would see the daily chart´s price action correct up and into the Fibonacci scale. The 38.2% Fibonacci aligns with the nose of the neckline near 1.3650.
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