Technical analytics

Fibonacci analysis of USD/CAD


USD/CAD remained under pressure due to the ask sentiment around the US dollar. Sellers pushed away from 1.3250 and drove the market to 1.3180. Sellers failed to hold onto gains and they retreated to 1.3200 afterwards. Buyers did not stay here and moved the major to 1.3230.

The Fibonacci level 50.0% is located in the 1.3220 area and is an additional support for the USD/CAD pair. The next Fibonacci level 61.8% is in the 1.3120 region. The EMA50 is moving downwards, the EMA200 started to change its course.  MACD grew in the negative area. Stochastic left the oversold levels and headed higher. The resistance stands at 1.3250, the support is at 1.3200.

The USD/CAD currency pair is oversold and may require a correction. A bid tone around the US dollar might push the major to 1.3250.