On the DTF we can see USD/CAD is entering an interesting area (marked). S1 Daily Pivot is very near the significant rising trendline that could hold the key to USD/CAD's direction over the next few weeks.
If both the S1 Pivot and the rising line break then we could see USD/CAD look for support at the 61.8 Weekly Fibonacci at 1.3465 and below that the 200 sma and ema coming in just below at 1.3417 area.
Possibly significant is the 200 ema is crossing south over the 200 sma which would indicate weakness.
Too early to call this one but I'll update this when (if) we get to 1.3600.
If both the S1 Pivot and the rising line break then we could see USD/CAD look for support at the 61.8 Weekly Fibonacci at 1.3465 and below that the 200 sma and ema coming in just below at 1.3417 area.
Possibly significant is the 200 ema is crossing south over the 200 sma which would indicate weakness.
Too early to call this one but I'll update this when (if) we get to 1.3600.
Trade active:
Just gone LONG on this pair - see Which way for USD/CAD part 2