USDCAD (1H) - short term bearish bias
The US dollar came to a halt at the previous daily high of 1.3330 and is likely to pull back toward the moving averages. On the hourly chart, yesterday's engulfing red candle took a lot of longs out of action. The bearish MA cross is a strong sign that sentiment has turned south and we would expect fresh sellers to put pressure on the greenback. As the pair consolidates around the 20 and 30-hour MA, a renewed round of sell-off would push the price toward 1.3200.
Key support: 1.3200
Key resistance: 1.3320
The US dollar came to a halt at the previous daily high of 1.3330 and is likely to pull back toward the moving averages. On the hourly chart, yesterday's engulfing red candle took a lot of longs out of action. The bearish MA cross is a strong sign that sentiment has turned south and we would expect fresh sellers to put pressure on the greenback. As the pair consolidates around the 20 and 30-hour MA, a renewed round of sell-off would push the price toward 1.3200.
Key support: 1.3200
Key resistance: 1.3320
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.