USD/CAD steps back from a three-week-old trend line resistance. Normal RSI conditions suggest further weakness. An eight-day-long falling resistance line add to the upside filters. USD/CAD justifies the strength of a descending resistance line from November 23 while easing to 1.2762 during the early Asian session on Tuesday. The absence of extreme RSI conditions also suggests a continuation of the current pullback moves. As a result, the recent lows near 1.2720, followed by the 1.2700 round-figure, regain USD/CAD sellers’ attention. However, any further downside past-1.2700 will not hesitate to challenge the initial 2020 troughs surrounding 1.2630. On the flip side, a clear break of the stated resistance line, at 1.2771 now, will have to cross another falling trend line from December 03, currently, around 1.2795, to recall the USD/CAD buyers. It’s worth mentioning that the pair’s sustained run-up beyond 1.2795 needs validation from the 1.2800 threshold to eye for 1.2830 and the 1.2880/85 numbers to the north. 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 US President-elect Biden wins Electoral College to cement victory and rebuff Trump – Bloomberg FX Street 2 years USD/CAD steps back from a three-week-old trend line resistance. Normal RSI conditions suggest further weakness. An eight-day-long falling resistance line add to the upside filters. USD/CAD justifies the strength of a descending resistance line from November 23 while easing to 1.2762 during the early Asian session on Tuesday. The absence of extreme RSI conditions also suggests a continuation of the current pullback moves. As a result, the recent lows near 1.2720, followed by the 1.2700 round-figure, regain USD/CAD sellers’ attention. However, any further downside past-1.2700 will not hesitate to challenge the initial 2020 troughs surrounding 1.2630. On the flip side,… 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.
