USD/CAD – Week 14 – New low or continuation?

Last week was a corrective week for the “loonie” as the price found some resistance at the upper channel line.
In the coming week, we expect the price to make a deeper pullback towards the support area that we highlighted on the chart. After that we can see a continuation of the bullish move that started, having a high change to reach the $1.27 resistance level.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.