USDCAD, H2
On the H2 timeframe, USDCAD formed a cup-and-handle pattern and breached above the 1.3560 resistance.
The %R oscillator is in the robust overbought zone, potentially indicating a bearish momentum for the asset. This setup gives us further scenarios:
- If the price rebounds from the 1.3560 support, it will open the way for a rise to the 1.3680 level;
- However, a breaching below the 1.3560, will return the asset back to 1.3490 support.
