Hello Traders,
Let’s hit the charts…
1. USD/CAD
When we look at the USD/CAD on the daily chart, it has been ranging between price level 1.33405 and 1.32532.
On the 4 hours time frame, we can see that price is breaking out from an ascending channel’s support level (1.32900).
Personally, I would watch out for price reaction when it gets to the 1st NPSL. A rejection at that level will most likely bounce price back to resistance level 1.32900
A breakout through the 1st NPSL will further drive price down to the 2nd NPSL.
I wish you a pip-full day ahead
