USDCAD has well supported the resistance & support level of the Fibonacci Retracement level, as shown in the chart. At the current level, it is trading near the Fibonacci resistance level & also it is trading in channel pattern. According to chart pattern analysis, we might see some more sideways movement in channel pattern till a decisive breakout of channel pattern and Fibonacci resistance level .

Thanks

Vivek_Samale
Vivek_Samale

I have half a decade of experience as a trader and enthusiastically learning & developing new strategies in algorithm trading & also analyzing the companies with New ESG method.