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
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.