USD/CAD Intraday: look for a drop towards 1.3548 before a bounce
Sep 18, 2024 7:29 PM
look for a drop towards 1.3548 before a bounce.
Our pivot point is at 1.3548.
Our preference:
look for a drop towards 1.3548 before a bounce.
Alternative scenario:
below 1.3548, expect 1.3520 and 1.3502.
Comment:
the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.3588 and 1.3589).
Supports and resistances:
1.3688 **
1.3670 *
1.3653 **
1.3636
1.3597 last
1.3560
1.3548 **
1.3520 *
1.3502 **
Our preference:
look for a drop towards 1.3548 before a bounce.
Alternative scenario:
below 1.3548, expect 1.3520 and 1.3502.
Comment:
the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.3588 and 1.3589).
Supports and resistances:
1.3688 **
1.3670 *
1.3653 **
1.3636
1.3597 last
1.3560
1.3548 **
1.3520 *
1.3502 **
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Related Instruments
USD/CAD
1.35564
-0.00473
-0.35%