Technical analytics

Fibonacci analysis of USDCAD


The demand for the US dollar remained safe and sound. Buyers kept flirting with the 1.3500 hurdle and after one failure attempt managed to pierce it. They posted a fresh high at 1.3530. They lost steam after that, and the currency moved to 1.3480. MACD kept strengthening in the positive area. Stochastic consolidated within the oversold levels. The resistance stands at 1.3500, the support is at 1.3450.

If the buying pressure persists, the USD/CAD will remain en route towards 1.3550.