USD/CAD recovers from the level last seen in April 2018. The daily chart shows the pair has carved out a falling wedge pattern. USD/CAD is currently trading near 1.2745, having printed a low of 1.2707 on Thursday. That level was last seen in April 2018. The minor recovery from multi-year lows looks like an oversold bounce. The 14-day Relative Strength Index is hovering below 30, indicating the sell-off is overdone. However, the pair is yet to exit the falling wedge represented by trendlines connecting the Oct. 29 and Nov. 4 highs and Oct. 13 and Nov. 9 lows. A falling wedge breakout would confirm a short-term bearish-to-bullish trend change. At the time of writing, the falling wedge resistance is located at 1.2876. Daily chart Trend: Bearish Technical 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 Gold Price Analysis: XAU/USD needs 21-day SMA breakout to keep intraday gains FX Street 2 years USD/CAD recovers from the level last seen in April 2018. The daily chart shows the pair has carved out a falling wedge pattern. USD/CAD is currently trading near 1.2745, having printed a low of 1.2707 on Thursday. That level was last seen in April 2018. The minor recovery from multi-year lows looks like an oversold bounce. The 14-day Relative Strength Index is hovering below 30, indicating the sell-off is overdone. However, the pair is yet to exit the falling wedge represented by trendlines connecting the Oct. 29 and Nov. 4 highs and Oct. 13 and Nov. 9 lows. A falling… 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.
