fxs_header_sponsor_anchor

News

USD/CAD Technical Analysis: Big bears offering Friday surprise as the market is reversing down sharply to 1.3050 level

  • USD/CAD is trading in a bull trend above the 200-period simple moving average. 
  • USD/CAD found strong resistance at the 1.3150 resistance as the market is reversing sharply. 
  • Bears are likely to drive the market at least to 1.3053 October 15 high and to 1.3000 if the bears gather enough traction.

USD/CAD 4-hour chart

Spot rate:                   1.3078
Relative change:         0.05% 
High:                          1.3160
Low:                           1.3069

Main trend:                Neutral

Resistance 1:            1.3083 September 27 swing high
Resistance 2:            1.3108, September 7 low
Resistance 3:            1.3150 figure

Support 1:                 1.3053 October 15 high
Support 2:                 1.3000 figure
Support 3:                 1.2950-59 multi-month key level and August 7 low

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.