Technical analytics

Fibonacci analysis of USDCAD


The technical picture is bearish for the USD/CAD pair. Sellers reached the level 1.3150 where the Fibonacci retracement of 23.6% is located. Sellers lost steam here, as a result, the spot went into the consolidation phase. Besides, the EMA50 is located this area, proving additional support for the spot. MACD entered the negative ground. The Stochastic indicator reached the oversold levels. The moving averages kept moving north. The resistance stands at 1.3200, the support is at 1.3150.

If sellers regain the Fibonacci level of 23.6%, they will be able to drive the 1.3100 level.

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