USDCAD Analysis

in forex •  6 years ago 

USD/CAD: Focus on resistance near 1.3010;

  1. From the daily chart, the exchange rate rebounded around 1.2779, and it is expected to close for five consecutive trading days. KDJ runs, MACD also initially forms a golden fork, and the market is biased upwards. The Bollinger Band's mid-rail resistance is near the 1.30 integer mark, and the 38.4% retracement resistance of the 1.3384-1.2779 downtrend is around 1.3010. If the position is raised, the bullish signal is added; further resistance is at the 50% retracement and 9 The double resistance of the 27th high was around 1.3082; the 61.8% retracement resistance was around 1.3153;
  2. the initial support was near the 20-day moving average at 1.2952, the 10-day moving average was around 1.2926, and the strong support was around the 200-day moving average at 1.2875. An unexpected fall back below the position increases the downside risk;
  3. resistance: 1.3010; 1.3055; 1.3082; 1.3153;
  4. support: 1.2952; 1.2926; 1.2907;

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