Currently, USD/CAD is trading at 1.3754. The pair started a new down trend on 26 May after breaking the support level at 1.3865. The pair was trading in resistance and support wedges before starting a new down trend. The price has already touched its first target which is at 1.3760, then it may hit the second target at 1.2491.

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Rishikesh Lilawat

Rishikesh Lilawat
Rishikesh Lilawat

Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.