The USD/CAD
is still consolidated between the 1.3000 and the 1.3200 levels. Today the
Canadian Dollar tried to weaken a little bit, due to a small drop in oil. But
oil stays steady and has not continued with its bearish trend so far. That is
why the USD/CAD has not taken a clear direction yet and remains consolidated.
The longer term trend is still bullish on the pair and the current price is
relatively far away from its 200 day exponential moving average, which is
situated around the 1.2386 level. The stochastics indicator is around the 50%
level, indicating us that there is no clear trend. A breakout above the 1.3200
level could take the price to the 1.3300 level and a breakdown below the 1.3000
level could take the price to the 1.2857 level, which is its latest low.
The uptrend looks intact.
ReplyDeleteRange continues.
ReplyDeleteClear consolidation.
ReplyDeleteThe pair is still ranging.
ReplyDeleteGood analysis, thanks for sharing!
ReplyDeleteThere is almost no movement on the price.
ReplyDelete"What has been will be again, what has been done will be done again"
ReplyDelete