USDCAD (1H) - short term bearish bias
The US dollar came under pressure after it broke below the November trend line. The bearish RSI divergence under 1.3270 was the first sign that buyers were losing faith. The breach of the support at 1.3230 prompted the longs to bail out. A series of lower lows and the bearish MA cross are the confirmation that the price action has turned to the downside. We may expect the averages to act as resistance in case of a pullback. The immediate target would be 1.3180.
Key support: 1.3180
Key resistance: 1.3250
The US dollar came under pressure after it broke below the November trend line. The bearish RSI divergence under 1.3270 was the first sign that buyers were losing faith. The breach of the support at 1.3230 prompted the longs to bail out. A series of lower lows and the bearish MA cross are the confirmation that the price action has turned to the downside. We may expect the averages to act as resistance in case of a pullback. The immediate target would be 1.3180.
Key support: 1.3180
Key resistance: 1.3250
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.