USDCAD- 10Feb2022
USDCAD- 10Feb2022
Technically, USDCAD price action is very mixed due to its negative correlation with oil price. It is bearish on monthly but bullish on daily and weekly time frame.
On the H4, price dropped from 50% Fib resistance and found support at demand zone 1.26660. This remains the crucial level as closing below this level will cause price to drop to 2nd Support at around 1.2601 area.
This is for personal record purposes only, not financial advise or solicitation of trade.
Technically, USDCAD price action is very mixed due to its negative correlation with oil price. It is bearish on monthly but bullish on daily and weekly time frame.
On the H4, price dropped from 50% Fib resistance and found support at demand zone 1.26660. This remains the crucial level as closing below this level will cause price to drop to 2nd Support at around 1.2601 area.
This is for personal record purposes only, not financial advise or solicitation of trade.
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