USD/CAD bulls catch a break near a 38-month high. Overbought RSI conditions can trigger pullback, MACD stays positive. Buyers will look for entry beyond the recent high to question 2016 top. Following its jump to the highest since late-January 2016, USD/CAD seems to lack strength while taking rounds to 1.4200 amid the early Wednesday’s trading session. In addition to its failure in extending the run-up, overbought RSI conditions also raise doubts on the pair’s further rally. However, bullish MACD signals keep restricting the bears’ entry unless the quote slips below the three-week-old rising support line, previous resistance, currently at 1.4130. In doing so, 1.4020 and 1.4000 will become their immediate targets while the weekly low near 1.3730 can please the sellers afterward. Alternatively, bulls can renew buying pressure if the USD/CAD pair rises past the recent high of 1.4277, which in turn will open the gate for the additional rise towards 2016 top near 1.4690. 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 USD/MXN Price Analysis: Mexican Peso eyes recovery with spinning top on D1 chart FX Street 2 years USD/CAD bulls catch a break near a 38-month high. Overbought RSI conditions can trigger pullback, MACD stays positive. Buyers will look for entry beyond the recent high to question 2016 top. Following its jump to the highest since late-January 2016, USD/CAD seems to lack strength while taking rounds to 1.4200 amid the early Wednesday’s trading session. In addition to its failure in extending the run-up, overbought RSI conditions also raise doubts on the pair’s further rally. However, bullish MACD signals keep restricting the bears’ entry unless the quote slips below the three-week-old rising support line, previous resistance, currently at 1.4130.… 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.
