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USDCAD facing down pressure on channel | June 5, 2017



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Usdcad is facing downward pressure after rejection from 100 ema. It is following an upward channel. Now, this pair is near to the lower level of the channel. From this level, if we find a bullish candle, then we should go for buy on this pair. 

1.3430 is support level for this pair. This level can be good buy zone for this pair. We can look for bullish confirmation from that level also. The stochastic level is showing oversold and we can now wait for the bounce back from this level. 

1.3390 level is a critical support level. So break out of this support level can bring this pair more down. 



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