USD/CAD consolidates recent losses near the week’s low. Bullish MACD suggests another attempt to cross seven-week-old resistance line. 50-day SMA adds to the upside filter, bears have bumpy road below 1.2700. USD/CAD rises to 1.2700 during Wednesday’s Asian session. In doing so, the loonie pair takes a U-turn from the week’s bottom. However, the quote stays below a downward sloping trend line from November 11 while maintaining its pullback marked the previous day. With the MACD signals flashing green light, USD/CAD is likely to again confront an 11-week-old resistance line, at 1.2737 now. Though, a 50-day SMA near 1.2805 adds to the upside filters. Should the USD/CAD prices rise beyond 1.2805, the monthly high of 1.2835 and the late December top surrounding 1.2835-40 will be in the spotlight afterward. Meanwhile, a horizontal area comprising multiple lows marked since January 06, between 1.2625-30, will act as immediate support during the USD/CAD pair’s fresh downside. Also acting as the key support will be the monthly low of 1.2589 as well as the April 2018 low near 1.2525. USD/CAD daily chart Trend: Further recovery expected 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 USD/JPY Price Analysis: Bulls throwing in the towel? 103.50 is the big test FX Street 1 year USD/CAD consolidates recent losses near the week’s low. Bullish MACD suggests another attempt to cross seven-week-old resistance line. 50-day SMA adds to the upside filter, bears have bumpy road below 1.2700. USD/CAD rises to 1.2700 during Wednesday’s Asian session. In doing so, the loonie pair takes a U-turn from the week’s bottom. However, the quote stays below a downward sloping trend line from November 11 while maintaining its pullback marked the previous day. With the MACD signals flashing green light, USD/CAD is likely to again confront an 11-week-old resistance line, at 1.2737 now. Though, a 50-day SMA near 1.2805 adds… 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.
