USD/CAD - Surpassed Significant Obstacles and is Moving Towards 1.3670 - 05/24/2017 (GMT)
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USD/CAD Chart
One of the main topic of discussions today will be the Canadian dollar which fell sharply against the U.S. dollar. The USD/CAD pair moved slightly higher after the sell-off until the 1.3450 support level and now it climbed above the 50-daily SMA. After the price recorded a new one-month low, we are waiting for a correction until the next immediate strong resistance level at 1.3670. However, we could see a further bearish tendency if the price falls below the 1.3450 support level.
The technical structure suggests bullish move as both are rising. The RSI indicator is following a negative path but is sloping to the upside approaching the 50 level. Also, the stochastic oscillator created a bullish crossover within its moving averages and exited from the oversold zone.
The technical structure suggests bullish move as both are rising. The RSI indicator is following a negative path but is sloping to the upside approaching the 50 level. Also, the stochastic oscillator created a bullish crossover within its moving averages and exited from the oversold zone.
This member did not declare if he had a position on this financial instrument or a related financial instrument.
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