USD/CAD bulls gearing up for a test of 1.30, the 100-DMA. Daily sticks charted a falling wedge breakout on Wednesday. Recaptures 50-DMA with RSI trending in the green zone. USD/CAD is accelerating Wednesday’s advance and remains poised to test the 1.30 barrier in the coming days amid a bullish technical setup. Having confirmed a falling wedge breakout on the daily chart on Wednesday, the bullish momentum in the spot has gathered steam this Thursday, with the buyers now challenging December 27 highs at 1.2878 in a bid to regain 1.2900. A test of the December 21 high at 1.2958 also remains in the offing should the bulls extend control. With the 14-day Relative Strength Index (RSI) pointing northwards, the major remains primed for a further rally towards the downward-sloping 100-DMA at 1.3000. The ongoing rally has taken out the bearish 50-daily moving average (DMA), now at 1.2804, which has formed solid support should any retracements occur on profit-taking. The next fierce support awaits around 1.2730, where the pattern resistance now support coincides with the 21-DMA. 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 China likely to avoid setting 2021 GDP target – Reuters FX Street 1 year USD/CAD bulls gearing up for a test of 1.30, the 100-DMA. Daily sticks charted a falling wedge breakout on Wednesday. Recaptures 50-DMA with RSI trending in the green zone. USD/CAD is accelerating Wednesday’s advance and remains poised to test the 1.30 barrier in the coming days amid a bullish technical setup. Having confirmed a falling wedge breakout on the daily chart on Wednesday, the bullish momentum in the spot has gathered steam this Thursday, with the buyers now challenging December 27 highs at 1.2878 in a bid to regain 1.2900. A test of the December 21 high at 1.2958 also remains… 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.
