Technical analytics

Fibonacci analysis of USDCAD


The US dollar remained the winner versus its Canadian peer. The major attacked 1.3250 and broke the level this time. The pair was able to escalate up to 1.3260 where the buying impetus lost legs. The US dollar returned to the 1.3250 area afterwards. The Fibonacci retracement of 100.0% is located just below the price, providing it the additional support.  MACD remained in the positive area. Stochastic bounced from to the overbought zone. The moving averages continued their vertical slope. The resistance stands at 1.3250, the support is at 1.3200.

If bulls manage to regain 1.3250, they will be able to drive the majors towards 1.3300 afterwards.

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