USD/CAD Technical Analysis: Bullish RSI divergence seen in the hourly chart
|- The bullish divergence of the relative strength index (RSI), as seen in the hourly chart, indicates scope for a corrective rally toward the 200-hour MA of 1.3077.
- The major moving averages (50-hour, 100-hour and 200-hour) have shed bearish bias (flatlined).
Hourly chart
Spot Rate: 1.3010
Daily High: 1.3013
Daily Low: 1.2994
Trend: Bullish
R1: 1.3033 (previous day's doji candle high)
R2: 1.3077 (200-hour moving average)
R3: 1.3109 (July 16 low)
Support
S1: 1.30 (psychological support)
S2: 1.2975 (previous day's doji candle low)
S3: 1.2951 (38.2% Fib R of Jan 31 low - June 27 high)
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