Dukascopy

USD/CAD returns to weekly R1

FX:USDCAD   U.S. Dollar / Canadian Dollar
Daily outlook - USD/CAD             returns to weekly R1

  • As it was expected, the USD/CAD             currency rate bounced off from the 100-hour SMA near 1.2677 and once again surged to the weekly R1 at 1.2738, and even managed to bypass it for couple of hours.

  • Fortunately for the Loonie, an announcement of information on the US CPI             led to 33-pips depreciation of the Greenback.
  • For the reason, the pair has two main options. Either it will find a support already at the above-mentioned 1.2677 level, or it will slip to a combination of the 200-hour SMA and the monthly PP             at 1.2636 and only then make a rebound.
  • The first scenario seems more likely, as it is supported by multiple technical indicators, which send a signal that the rate is oversold.
  • On the other hand, the second option represents a more sizable barrier for the given currency pair.
See more at the Dukascopy Analytics page
https://www.dukascopy.com/swiss/english/marketwatch/market_news/Technical-Analysis/

Check out our trading platform:
https://www.dukascopy.com/land/swiss/
what will happen to usdcad next starting day? will this pair start the day from down trend again?
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out