USD/CAD struggles to keep bounce off 200-HMA. Multiple falling trend lines, the key Fibonacci retracements question the pullback. Further selling could take place below Friday’s low. USD/CAD eases to 1.3400, down 0.10% on a day, during Monday’s Asian session. The loonie pair bounced off 200-HMA on Friday but lacks upside momentum under an ascending trend line stretched from last Thursday. The lack of strength joins sluggish MACD, which in turn signals the pair’s weakness. However, sellers are less likely to look for entries unless the quote slips below Friday’s low of 1.3372, which in turn will attack the monthly low near 1.3330. During the quote’s further weakness past-1.3330, lows marked in March and June months around 1.3315, followed by 1.3300 round-figures will be the key to watch. Alternatively, an upside clearance of immediate resistance line near 1.3422 will escalate the recovery moves to another falling trend line resistance from July 22, at 1.3455 now. Also acting as the north-side barriers are 50% and 61.8% Fibonacci retracement of the pair’s fall from July 20 to 28, respectively around 1.3465 and 1.3500. USD/CAD hourly 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 PBOC sets yuan reference rate at 6.9980 FX Street 3 years USD/CAD struggles to keep bounce off 200-HMA. Multiple falling trend lines, the key Fibonacci retracements question the pullback. Further selling could take place below Friday’s low. USD/CAD eases to 1.3400, down 0.10% on a day, during Monday’s Asian session. The loonie pair bounced off 200-HMA on Friday but lacks upside momentum under an ascending trend line stretched from last Thursday. The lack of strength joins sluggish MACD, which in turn signals the pair’s weakness. However, sellers are less likely to look for entries unless the quote slips below Friday’s low of 1.3372, which in turn will attack the monthly low… 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.
