Understanding Zone in USDCAD

Understanding major zones is crucial when entering any trade. If you examine USDCAD on higher timeframes such as 1 day and 1 week, you'll notice that most of the time, it tends to stay in a sideways market. This characteristic makes it an excellent currency for swing trading.

Fig2.1-USDCAD zone

Here are some important zone to note for weekly charts-1.46626, 1.38500, 1.31000, 1.23000, and 1.20689.

Zone 1.46626 is strong resistance area and 1.20689 is strong support area.

Fig2.2-USDCAD's 1.46626 resistance zone

Fig2.3-USDCAD's 1.20689 support zone