USD/CAD Intraday: the downside prevails as long as 1.3941 is resistance
Oct 30, 2024 5:50 PM
the downside prevails as long as 1.3941 is resistance.
Our pivot point is at 1.3941.
Our preference:
the downside prevails as long as 1.3941 is resistance.
Alternative scenario:
the upside breakout of 1.3941, would call for 1.3971 and 1.3989.
Comment:
the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3918 and 1.3917).
Supports and resistances:
1.3989 **
1.3971 *
1.3941 **
1.3929
1.3905 last
1.3863
1.3845 **
1.3827 *
1.3809 **
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