Technical Analysis – USDCAD tumbles towards 200-day SMA
USDCAD falls beneath uptrend line within trading range
RSI and MACD tick down
USDCAD is plunging well below the long-term descending trend line, with immediate strong support coming from the 200-day simple moving average (SMA) near the 1.3590 level. The RSI indicator is falling beneath the 50 level with strong momentum; however, the MACD oscillator is moving beneath its trigger and zero lines, losing some steam.
If the pair dives beneath the 200-day SMA, then it may change the outlook to bearish, heading towards the 1.3455 support.
Alternatively, a climb back above the downtrend line could take traders within the consolidation area, meeting the next resistance area of 1.3755–1.3785. Above this level, the previous high of 1.3845 and the 13-month high of 1.3900 could switch the bias to strongly bullish.
All in all, USDCAD has been in a trading range since mid-April, but the current significant dive may take the market to bearish mode.免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
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