USD/CAD steps back from 100-day EMA, still positive on a day above the weekly low of 1.3728. 200-day EMA offers additional support below 61.8% Fibonacci retracement. May 19 low, 50% Fibonacci retracement can challenge the buyers. USD/CAD drops from the intraday high of 1.3785 to 1.3773 amid the initial hour of Tokyo trading on Friday. In doing so, the pair retreats from 100-day EMA but stays above 61.8% Fibonacci retracement level of February-March upside. Even so, the bearish MACD and a failure to carry the bounce off 1.3728 favors the sellers. As a result, odds of the pair’s drop to a 200-day EMA level of 1.3585 become brighter if it breaks the immediate supports surrounding 1.3765 and 1.3730. On the contrary, an upside clearance of a 100-day EMA level of 1.3780 might not help the bulls regain the throne as May 19 low near 1.3865/70 and 50% Fibonacci retracement level of 1.3940 stand all as near-term key resistances. USD/CAD daily 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 Silver Price Analysis: Struggles to gather upside traction despite diamond breakout FX Street 3 years USD/CAD steps back from 100-day EMA, still positive on a day above the weekly low of 1.3728. 200-day EMA offers additional support below 61.8% Fibonacci retracement. May 19 low, 50% Fibonacci retracement can challenge the buyers. USD/CAD drops from the intraday high of 1.3785 to 1.3773 amid the initial hour of Tokyo trading on Friday. In doing so, the pair retreats from 100-day EMA but stays above 61.8% Fibonacci retracement level of February-March upside. Even so, the bearish MACD and a failure to carry the bounce off 1.3728 favors the sellers. As a result, odds of the pair’s drop to… 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.
