Short USDCAD for short term target
After bouncing up from its low on 09/11/2020 at 1.29284, USDCAD made its peak then in a short term trading at 1.3172, and from there, a further higher highs has been rejected. The price action is at the moment trading around by the updated time at 1.3096 and USDCAD; technically it is retracing to touch the 200 SMA at 1.3081.
A further break down below the 200 SMA at H1 TF could lead the USDCAD price action to a lower highs, which the weakness is then confirmed.
Supply zone in a short term trading strategy is to see at 1.3150-1.3190. Support zone is at 1.2988.
Detailed take profit levels and stop loss, take a look at our trading signal for USDCAD: