USDCAD is breaking below the strong resistance
USDCAD has broken below the strong resistance 1.2950. A confirmed break below this resistance is giving us a higher probability of the short trade entries. A break above 1.2950 is now required for the upside reversal. The overall medium-term is now downtrend and we could only see bounces to broken downside resistance turned support 1.28009-1.2900 zone. Use a bounce to short the pair as it has been materialized downside reversal..
Note – We are inclined to short trade entries with the stop loss above 1.2850.
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