Technical analytics

Fibonacci analysis of USD/CAD


The greenback keeps the upbeat tone unchanged vs. its Canadian peer on Thursday. The US dollar broke above 1.3300 and grew to 1.3315 where the buying pressure eased and the major dropped to 1.3250.

The Fibonacci level 38.2% is in the 1.3330 region, acting as an additional resistance. The EMA50 continued moving downwards and approached the level 1.3250, while the EMA200 is still neutral in the 1.3390 region. MACD entered the positive area. The Stochastic indicator lost momentum around the overbought readings. The resistance stands at 1.3300, the support is at 1.3250.  

In the scenario where the buyers keep control the pair will advance to 1.3330. A close above this barrier, will open gates towards 1.3350.

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