Technical analytics

Fibonacci analysis of USDCAD


The buying structure remained in place on Friday. A fresh buying pressure lifted the currency pair to 1.3400 where bulls once again lost control. The spot closed the week in this area. The moving averages are going north. MACD continued moving lower and approached the zero-line. The RSI oscillator lost momentum in the overbought area and moved lower after that. The resistance stands at 1.3400, the support is at 1.3350.

If bulls preserve control, their next stop could well be at the 1.3450 region.

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