USD/CAD: sell in the downtrend

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USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125. The decline below this level will confirm a top and open the way down to 1.3100/1.3085. The outlook for buyers will improve only if USD/CAD manages to rise above 1.3160.

Trade idea for USD/CAD

SELL 1.3120; TP 1.3100; SL 1.3130

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FBS Analyst Team

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