USD/CAD Technical Analysis: USD/CAD bulls looking for a floor near 1.3000 figure
|- USD/CAD main bull trend is currently on hold.
- USD/CAD is consolidating the recent leg down near the 1.3000 figure and the 61.8% Fibonacci retracement level from the late August-early September bull run.
- The RSI is in oversold territories, the MACD is slowly gaining some traction while the Stochastics indicator is deeply oversold. A bull breakout above 1.3048 (August 14 low) would further confirm that bulls have indeed bottomed out. Targets to the upside can be located near 1.3108 (September 7 low) and 1.3155 (June 18 low).
USD/CAD 4-hour chart
Spot rate: 1.3000
Relative change: 0.06%
High: 1.3027
Low: 1.2973
Trend: Bullish
Resistance 1: 1.3048 August 14 low
Resistance 2: 1.3108, September 7 low
Resistance 3: 1.3155 June 18 low
Resistance 4: 1.3172 August 13 swing high
Resistance 5: 1.3200 figure
Resistance 6: 1.3300 figure
Resistance 7: 1.3388, 2018 high
Support 1: 1.3000 figure
Support 2: 1.2959 August 7 swing low
Support 3: 1.2855 June 6 low
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.