USD/CAD Intraday: look for a drop towards 1.3947 before a bounce
USD/CAD (USD/CAD)
+0.00003+0.00%
look for a drop towards 1.3947 before a bounce.
1.3947 is our pivot point.
Our preference: look for a drop towards 1.3947 before a bounce.
Alternative scenario: below 1.3947, expect 1.3912 and 1.3891.
Comment: the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the pair is trading under its 20 period moving average (1.3984) but above its 50 period moving average (1.3977).
Supports and resistances:
1.4086 **
1.4065 *
1.4044 **
1.4023
1.3980 last
1.3960
1.3947 **
1.3912 *
1.3891 **
Our preference: look for a drop towards 1.3947 before a bounce.
Alternative scenario: below 1.3947, expect 1.3912 and 1.3891.
Comment: the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the pair is trading under its 20 period moving average (1.3984) but above its 50 period moving average (1.3977).
Supports and resistances:
1.4086 **
1.4065 *
1.4044 **
1.4023
1.3980 last
1.3960
1.3947 **
1.3912 *
1.3891 **
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