Technical Talk:USD/CAD 16-10-2019

USD/CAD Murrey Math Lines
Our preference: long positions above 1.3190 with targets at 1.3240 & 1.3260 in extension.Alternative scenario: below 1.3190 look for further downside with 1.3165 & 1.3145 as targets.

Comment:

USD/CAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has rebounded from the strong support at 0/8. In this case, the pair is expected to resume growing to reach the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 0/8. After that, the instrument may continue falling towards the support at -2/8.

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