USD/CAD remains on the back foot while refreshing the intraday low. Bearish MACD, sustained trading below 200-bar SMA favor sellers. Key Fibonacci retracements add to the upside barriers. USD/CAD drops to 1.2826, down 0.14% on a day, during the early Tuesday. In doing so, the loonie pair battles a horizontal area comprising multiple levels marked since December 07. Although the key support restricts short-term USD/CAD declines around 1.2825/15, the pair’s failures to cross 200-bar SMA and bearish MACD signals indicate further weakness towards challenging the 1.2800 threshold. Should the quote remains downbeat past-1.2800, 1.2770 can offer an intermediate halt during the south run to refresh monthly low under 1.2688. Meanwhile, 1.2880 guards the immediate upside of USD/CAD prices ahead of highlighting the 200-bar SMA resistance of 1.2916. Even if the USD/CAD buyers manage to cross 1.2916, 50% and 61.8% Fibonacci retracement of November 13 to December 15 downside, respectively around 1.2930 and 1.2985, will precede the 1.3000 psychological magnet to test any further rise. USD/CAD four-hour 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 Gold Price Analysis: XAU/USD bulls en-route $1,890 as US house passes stimulus – Confluence Detector FX Street 2 years USD/CAD remains on the back foot while refreshing the intraday low. Bearish MACD, sustained trading below 200-bar SMA favor sellers. Key Fibonacci retracements add to the upside barriers. USD/CAD drops to 1.2826, down 0.14% on a day, during the early Tuesday. In doing so, the loonie pair battles a horizontal area comprising multiple levels marked since December 07. Although the key support restricts short-term USD/CAD declines around 1.2825/15, the pair’s failures to cross 200-bar SMA and bearish MACD signals indicate further weakness towards challenging the 1.2800 threshold. Should the quote remains downbeat past-1.2800, 1.2770 can offer an intermediate halt during… 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.
