The USD/CAD has been unscathed by the huge FX flash crash during low liquidity in early Asian trade. Seems like accumulation phase now before the mark up.
Amidst huge YEN buying and massive AUD selling during early Asia market, the USD/CAD has been virtually unchanged. There was no stop triggering here. Ascending trend line, price above W L3, a rejection from the ATR low suggest a possible trend resumption from the 1.3605-15 zone. Targets are 1.3655 and 1.3690. However, the price should ideally stay above 1.3580 for uptrend to persist. If it drops below, we might see a bigger correction.
This article was originally posted on FX Empire
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