SimpleFX USDCAD Chart Analysis: October 2, 2019

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The market continues to move in the center zone of the green descending channel. Since the lower bound of this channel was reached earlier, and the price pushed off from it, at the moment bulls can push the price to the upper bound of the green channel. If the moving average breaks above the level of 1.324, the growth may continue to the level of 1.331, which is located on the green resistance line. If the price does not go above the moving average line and continues to move down, the target for the price will be the lower bound of the green channel and the support level of 1.307.

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