USD/CAD: massive resistance reached. What is the next step?
Taking a look at the 8H timeframe chart of USD/CAD, we can clearly observe that the price is currently trading at a crucial level of resistance. We will closely monitor the price action around this level and wait for the price to give us some confirmations before we potentially go short and aim for the zone of support aligning with 50% Fibonacci retracement level that is illustrated on the graph.