USD/CAD Intraday: the downside prevails as long as 1.3537 is resistance
Oct 1, 2024 5:53 PM
the downside prevails as long as 1.3537 is resistance.
Our pivot point stands at 1.3537.
Our preference:
the downside prevails as long as 1.3537 is resistance.
Alternative scenario:
the upside breakout of 1.3537, would call for 1.3563 and 1.3578.
Comment:
the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3516 and 1.3521).
Supports and resistances:
1.3578 **
1.3563 *
1.3537 **
1.3527
1.3506 last
1.3469
1.3453 **
1.3438 *
1.3423 **
Our preference:
the downside prevails as long as 1.3537 is resistance.
Alternative scenario:
the upside breakout of 1.3537, would call for 1.3563 and 1.3578.
Comment:
the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3516 and 1.3521).
Supports and resistances:
1.3578 **
1.3563 *
1.3537 **
1.3527
1.3506 last
1.3469
1.3453 **
1.3438 *
1.3423 **
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