The USD/CAD
has been falling while the Canadian Dollar strengthens and reaches the 200 day
exponential moving average, around the round number level of the 1.3400. The
bearish trend is still in place as indicated by the MACD indicator, but the
1.3400 zone could act as support. If the price breaks below the 1.3400 level,
then the next round number level of the 1.3300 could act as support. To the
upside, the only relevant resistance could be the 1.4000 level.
Excellent Analysis! Thanks.
ReplyDeleteIt could retrace from this point.
ReplyDeleteIt found some support at 1.3385.
ReplyDeleteI will keep eyes on those levels.
ReplyDeleteThat's good to know, thank you!
ReplyDeleteGreat post, thank you.
ReplyDeleteHelpful post.
ReplyDelete