USD/CAD snaps four-day losing streak. The bears cheer sustained trading below monthly resistance line, 21-day SMA. A confluence of a seven-week-old rising trend line, 50% Fibonacci retracement restrict immediate downside. Even if USD/CAD snaps the four-day losing streak to probe 1.3900, the Loonie pair remains below a month-old resistance line and 21-day SMA amid early Wednesday. As a result, the pair’s latest pullback fails to defy its gradual downward trajectory towards a two-month-old rising trend line and 50% Fibonacci retracement of December 31, 2019, to March 19, 2020, around 1.3810/05. Should sellers concentrate more on the bearish MACD below 1.3805, also break 1.3800 round-figure, 50-day SMA level of 1.3740 will lure them. Alternatively, the aforementioned resistance line, at 1.4030, and the 21-day SMA level of 1.4145 guards the pair’s upside attempts. USD/CAD daily chart Trend: Bearish FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/JPY Price Analysis: Turns lower from 50-day MA, potential H&S pattern on 1H FX Street 2 years USD/CAD snaps four-day losing streak. The bears cheer sustained trading below monthly resistance line, 21-day SMA. A confluence of a seven-week-old rising trend line, 50% Fibonacci retracement restrict immediate downside. Even if USD/CAD snaps the four-day losing streak to probe 1.3900, the Loonie pair remains below a month-old resistance line and 21-day SMA amid early Wednesday. As a result, the pair’s latest pullback fails to defy its gradual downward trajectory towards a two-month-old rising trend line and 50% Fibonacci retracement of December 31, 2019, to March 19, 2020, around 1.3810/05. Should sellers concentrate more on the bearish MACD below 1.3805,… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
