USD/CAD Intraday: look for a drop towards 1.4366 before a bounce
Jan 10, 2025 4:05 PM
look for a drop towards 1.4366 before a bounce.
Our pivot point is at 1.4366.
Our preference:
look for a drop towards 1.4366 before a bounce.
Alternative scenario:
the downside breakout of 1.4366 would call for 1.4326 and 1.4302.
Comment:
the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.4406 and 1.4401).
Supports and resistances:
1.4539 **
1.4515 *
1.4492 **
1.4468
1.4418 last
1.4381
1.4366 **
1.4326 *
1.4302 **
Our preference:
look for a drop towards 1.4366 before a bounce.
Alternative scenario:
the downside breakout of 1.4366 would call for 1.4326 and 1.4302.
Comment:
the RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.4406 and 1.4401).
Supports and resistances:
1.4539 **
1.4515 *
1.4492 **
1.4468
1.4418 last
1.4381
1.4366 **
1.4326 *
1.4302 **
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Related Instruments
USD/CAD
1.44794
0.00870
+0.60%