USD/CAD eases from intraday high after refreshing the lowest levels since April 2018 the previous day. Ability to regain above short-term horizontal support, receding bearish bias of MACD favor further short-covering. 200-bar SMA, weekly resistance line challenge buyers. USD/CAD declines to 1.2642 while fading the corrective pullback from a fresh multi-month low during Friday’s Asian trading. Even so, the quote prints 0.08% intraday gains and regains past-12-day-old horizontal support. Additionally, bearish MACD also seems to weaken, which in turn strengthens the odds of further recovery in the quote. As a result, USD/CAD buyers can target the weekly resistance line, at 1.2690 now, during the further upside. However, any more rise will have to battle the 1.2700 threshold and 200-bar SMA, currently around 1.2756, to probe the week’s high of 1.2799. Meanwhile, a downside break of 1.2625 will recall the sellers targeting the April 2018 bottom surrounding 1.2525. During the fall, the 1.2600 can act as a downside filter whereas the late-February 2018 low near 1.2450 can please the USD/CAD bears afterward. USD/CAD four-hour chart Trend: Pullback 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 Aussie Retail Sales arrives well below prior and estimates, AUD pressured FX Street 2 years USD/CAD eases from intraday high after refreshing the lowest levels since April 2018 the previous day. Ability to regain above short-term horizontal support, receding bearish bias of MACD favor further short-covering. 200-bar SMA, weekly resistance line challenge buyers. USD/CAD declines to 1.2642 while fading the corrective pullback from a fresh multi-month low during Friday’s Asian trading. Even so, the quote prints 0.08% intraday gains and regains past-12-day-old horizontal support. Additionally, bearish MACD also seems to weaken, which in turn strengthens the odds of further recovery in the quote. As a result, USD/CAD buyers can target the weekly resistance line, at… 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.
