In this video update, we take a look at USDCAD and how the price is finding resistance at the key 1.3300 zone.
This allows us to look for potential CAD strength moves against our weaker currencies such as the NZD, AUD, CHF and GBP.
We wouldn't necessarily look at this chart to trade however as the USD is seasonally strong, but using the major
currency pair to our advantage we can highlight where the base or term currency will find some strength and weakness
from support or resistance points, like in this example.
This allows us to look for potential CAD strength moves against our weaker currencies such as the NZD, AUD, CHF and GBP.
We wouldn't necessarily look at this chart to trade however as the USD is seasonally strong, but using the major
currency pair to our advantage we can highlight where the base or term currency will find some strength and weakness
from support or resistance points, like in this example.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.