USD/CAD in bearish consolidation around 1.2800. Oversold conditions on the 1D chart warrant caution for bears. Downside more compelling with 1.2760 support likely at risk. USD/CAD has halted its three-day recovery attempts, as the sellers return this Thursday, looking to attack the four-month-old descending trendline support at 1.2760. The downside appears more compelling, despite the 14-day Relative Strength Index (RSI) wavering in the oversold territory, currently at 27.91. The spot trades way below all the major daily moving average (DMA), backing the bearish case in the near-term. A breach of the aforesaid critical support could expose the May 2018 low of 1.2729. Acceptance below the latter could put the 1.2700 level at risk. To the upside, recapturing the bearish 21-DMA at 1.2977 is critical to negating the downside bias in the major. Ahead of that the December 4 high of 1.2873 is the level to beat for the bulls. USD/CAD: Daily chart USD/CAD: Additional levels 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/IDR Price News: Indonesian rupiah falls from highs after the Retail Sales slump FX Street 2 years USD/CAD in bearish consolidation around 1.2800. Oversold conditions on the 1D chart warrant caution for bears. Downside more compelling with 1.2760 support likely at risk. USD/CAD has halted its three-day recovery attempts, as the sellers return this Thursday, looking to attack the four-month-old descending trendline support at 1.2760. The downside appears more compelling, despite the 14-day Relative Strength Index (RSI) wavering in the oversold territory, currently at 27.91. The spot trades way below all the major daily moving average (DMA), backing the bearish case in the near-term. A breach of the aforesaid critical support could expose the May 2018 low of… 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.
