USD/CAD shows pattern of decline
|On Monday it was spotted that the US Dollar had no support levels left against the Canadian Dollar. The event resulted in a decline of the pair.
However, the free range from Dukascopy Analytics technical levels clearly was not about to be passed in a sudden drop without a fundamental base. Due to that reason the first hunt for a declining pattern began soon after.
On Tuesday analysts spotted that there is a very strong support line, which is keeping the rate from declining. That rate was used to draw a speculative channel down pattern.
The pattern is set to guide the rate down to the weekly S1 at 1.2502 level.
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