The USD/CAD was opened in 1.04128 of this week’s market with the continuation of last week’s downtrend. This trend has given around 150+ pips gain to the CAD even it is a peer of USD.
From this much downwards, we can easily find out the trend hopefully. The thing is to find out is, how long will the trend continue to reach its defined support.
The moving average, the trustworthy indicator is actually exposing the current trend. In addition, the combination of some of the other moving average is predicting a better sell and will gain a bunch of pips to satisfy in the trade.
The highly believable support point is 1.02874 and will be attained in the near future of gaining 90+ pips. In between, there will be two possible supports but we could be expecting a greater support.