USDCAD Will Go Down! Short!
Here is our detailed technical review for USDCAD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 1.349.
Considering the today's price action, probabilities will be high to see a movement to 1.340.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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