USD/CAD is under short-term pressure

USD/CAD is under short-term pressure

Information is not investment advice

USD/CAD broke below 1.3370 on Friday. This level will provide the short-term resistance for the pair acting as a neckline for the “Double top”. As long as the price stays below this level, the near-term focus will be on the 100-day MA at 1.3310.

The advance above 1.3370 will open the way up to 1.3430 where USD/CAD will meet resistance provided by the line connecting March highs.

usdcad.png

Similar

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

USD/CAD may be capable of more

USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

Popular

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Choose your payment system