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USDCAD Facing Bearish Momentum | June 12, 2017



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After rejection from resistance 1.3540 level, Usdcad is facing bearish pressure. We can see 2-3 big bearish candle on h4 on this pair which suggesting bearish momentum on this pair. So this pair has a chance to fall more. But stochastic indicator is showing oversold. So, it is better to wait for 30-40 pips retrace, then open sell entry on this pair. Stop loss will be above 1.3540, TP will be 1.3400.

Another support lies on this pair at 1.3390 level. If this pair can break this level, then more free fall can be expected around 50-100 pips. 

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