USD/CAD pullback from multi-year lows capped by 200-HMA. Buyers remain hopeful amid bullish RSI on 1H chart. Focus on US stimulus news and Canadian Retail Sales. USD/CAD consolidates its recovery from the multi-year troughs, as the bulls take a breather ahead of the Canadian Retail Sales release. Markets also await fresh updates on the US stimulus talks. Technically, the spot has entered a consolidative mode after facing rejection at the horizontal 200-hourly moving average (HMA) of 1.2759. The immediate downside, however, remains guarded by the 100-HMA, now aligned at 1.2737. Further south, the confluence of the 21 and 50-HMAs around 1.2930 will challenge the bears’ commitment. Alternatively, acceptance above the 200-HMA could call for a test of the 1.2800 level. The hourly Relative Strength Index (RSI) sees an uptick near 58.33, suggesting that the road to recovery likely remains intact. The path of least resistance appears to the upside after the major confirmed a descending triangle breakout on the hourly chart earlier in the Asian session this Friday. USD/CAD: Hourly chart USD/CAD: Additional levels 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 EUR/JPY to revisit its highs at 126.73/75 above which is 127.07 – Commerzbank FX Street 2 years USD/CAD pullback from multi-year lows capped by 200-HMA. Buyers remain hopeful amid bullish RSI on 1H chart. Focus on US stimulus news and Canadian Retail Sales. USD/CAD consolidates its recovery from the multi-year troughs, as the bulls take a breather ahead of the Canadian Retail Sales release. Markets also await fresh updates on the US stimulus talks. Technically, the spot has entered a consolidative mode after facing rejection at the horizontal 200-hourly moving average (HMA) of 1.2759. The immediate downside, however, remains guarded by the 100-HMA, now aligned at 1.2737. Further south, the confluence of the 21 and 50-HMAs around 1.2930… Regulated 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.
