USDCAD
The pair bounced above 1.2700 handle on Monday and signaling reversal after pullback from 1.2916 peak found footstep at 1.2665 where daily Kijun-sen contained dip. Morning Doji star is forming on daily chart as recovery rally surged through thick hourly cloud (1.2689 / 1.2707) with next barrier at 1.2724 (Fibo 23.6% of 1.2914/1.2665 pullback) coming under pressure. Near-term techs turned into bullish setup and support further advance which may extend towards next pivotal barrier at 1.2760 (Fibo 38.2% of 1.2914/1.2665). Broken 20SMA/hourly cloud top offer immediate support at 1.2705, with cloud base marking lower pivot (1.2689) loss of which will soften near-term structure and risk retest of key 1.2665 support.
Res: 1.2740; 1.2760; 1.2790; 1.2819
Sup: 1.2705; 1.2689; 1.2665; 1.2628
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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