Technical analytics

Fibonacci analysis of USDCAD


The up-move lacked momentum when the USD/CAD touched the level 1.3250. The spot spent a few days in this region. The bullish sentiment eased on Thursday. The pair moved away from 1.3250 and the Fibonacci of 100.0% towards 1.3200. Sellers broke the level and softened to the 1.3150 where the pair touched the EMA50. MACD decreased which confirmed the strength of sellers. The Stochastic indicator moved towards the oversold levels. The moving averages kept moving north. The resistance stands at 1.3200, the support is at 1.3150.

A bear breakout below the 1.3200 level would likely lead to an acceleration of the bear move towards 1.3150.

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