Single currency to Canadian dollar (D1) reached important resistance zone, which previously acted as a support. What is more, current level coincide also with downtrend line which connects three last highs – confirming the current momentum.
Switching to lower TF (H4) we can see supply dynamic reaction to this very level. And now, after small fall the rate retrace to the resistance line. There are few candles that shows indecision. It looks decrease-like, thus such direction should be considered. The situation change only if price will be able to break above the current resistance – then we will look for bull opportunities.
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