USD/CAD Technical Analysis: Assessing the Fall Toward 1.3500
Tuesday, 24 September 2024, 01:21
Market Overview
The USD/CAD pair has displayed a strong bearish trend, currently targeting the psychological level of 1.3500. Recent technical analysis showcases the falling wedge formation, indicating potential volatility as prices approach critical support.
Key Levels to Watch
- 1.3470 - Lower boundary of the falling wedge.
- Break below this level may reinforce the bearish outlook.
Potential Impact on Trades
Traders should remain vigilant for price movements around 1.3470, as this may serve as an indicator for potential further declines or reversals in the USD/CAD pair.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.