USDCAD
The pair stabilizes above 1.32 handle, turning near-term studies into positive mode, after corrective pullback from 1.3351, 25 Aug peak, found footstep just above pivotal 1.31 support, Fibonacci 61.8% of 1.2950/1.3351 rally, reinforced by sideways-moving daily Kijun-sen line.
Yesterday’s bounce and strong bullish close, turned near-term focus higher again, as the price closed above rising daily 10 SMA that now acts as initial support and contains today’s action.
Overall tone remains firmly bullish and sees return to 1.3351 and fresh attempts higher, as preferred scenario. Alternatively, violation of 1.31 handle, would sideline near-term bulls and signal stronger correction. Key short-term support lies at 1.2950, 12 Aug higher low, with break lower, seen as a trigger for stronger correction of 1.2124/1.3351 rally.
Res: 1.3261; 1.3300; 1.3324; 1.3351
Sup: 1.3215; 1.3157; 1.3115; 1.3057
The pair stabilizes above 1.32 handle, turning near-term studies into positive mode, after corrective pullback from 1.3351, 25 Aug peak, found footstep just above pivotal 1.31 support, Fibonacci 61.8% of 1.2950/1.3351 rally, reinforced by sideways-moving daily Kijun-sen line.
Yesterday’s bounce and strong bullish close, turned near-term focus higher again, as the price closed above rising daily 10 SMA that now acts as initial support and contains today’s action.
Overall tone remains firmly bullish and sees return to 1.3351 and fresh attempts higher, as preferred scenario. Alternatively, violation of 1.31 handle, would sideline near-term bulls and signal stronger correction. Key short-term support lies at 1.2950, 12 Aug higher low, with break lower, seen as a trigger for stronger correction of 1.2124/1.3351 rally.
Res: 1.3261; 1.3300; 1.3324; 1.3351
Sup: 1.3215; 1.3157; 1.3115; 1.3057
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