USD/CAD Intraday: 1.3906 expected
USD/CAD (USD/CAD)
-0.00793-0.57%
The downside prevails as long as 1.3960 is resistance, with 1.3906 and 1.3896 as targets
Our pivot point is at 1.3960.
Our preference: The downside prevails as long as 1.3960 is resistance, with 1.3906 and 1.3896 as targets
Alternative scenario: above 1.3960, look for 1.3977 and 1.3987.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The price stands below its 20 and 50 period moving average (respectively at 1.3962 and 1.3996).
Supports and resistances:
1.3987 **
1.3977 *
1.3960 **
1.3939 last
1.3906
1.3896 **
1.3886 *
Our preference: The downside prevails as long as 1.3960 is resistance, with 1.3906 and 1.3896 as targets
Alternative scenario: above 1.3960, look for 1.3977 and 1.3987.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The price stands below its 20 and 50 period moving average (respectively at 1.3962 and 1.3996).
Supports and resistances:
1.3987 **
1.3977 *
1.3960 **
1.3939 last
1.3906
1.3896 **
1.3886 *
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