Technical analytics

Fibonacci analysis of USDCAD


The US dollar kept the upbeat tone unchanged vs. its Canadian peer on Monday. The currency pair was in buy mode the whole day. The US dollar bounced from the lower boundary of the buying channel and moved to the 1.3220 area where the Fibonacci retracement of 100.0% stopped it once again. MACD remained in the positive area. Stochastic stopped half way to the oversold zone and grew again. The moving averages continued their vertical slope. The resistance stands at 1.3250, the support is at 1.3200.

We believe the growth will be continued now. The first target is the level 1.3250. We do not exclude the falls to 1.3170.

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