USD/CAD remains on the back foot near the monthly low. Weak RSI conditions can trigger bounce off falling wedge support. 200-HMA offers an additional filter to the upside past-bullish pattern. USD/CAD drops to 1.2978, down 0.10% intraday, during the early Monday morning in Asia. In doing so, the pair declines for the second day while staying around the monthly bottom, teased on Friday, inside a bullish chart formation. While sustained trading below the key HMAs keeps the USD/CAD sellers hopeful, RSI conditions indicate a pullback move from the support line of the stated rising wedge formation on the hourly (1H) chart. However, USD/CAD bears’ refrain from respecting the bullish chart pattern will challenge the multi-month low, marked earlier in November, around 1.2930. On the contrary, a confluence of 50-HMA and resistance line of the rising wedge, near 1.3000, restricts the pair’s short-term upside. Even if the quote manages to cross 1.3000, 200-HMA close to 1.3050 will stop the USD/CAD buyers from targeting the 1.3100 threshold. USD/CAD hourly 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/JPY: Off intraday high near 104.00 on upbeat Japan Industrial Production, Retail Sales FX Street 2 years USD/CAD remains on the back foot near the monthly low. Weak RSI conditions can trigger bounce off falling wedge support. 200-HMA offers an additional filter to the upside past-bullish pattern. USD/CAD drops to 1.2978, down 0.10% intraday, during the early Monday morning in Asia. In doing so, the pair declines for the second day while staying around the monthly bottom, teased on Friday, inside a bullish chart formation. While sustained trading below the key HMAs keeps the USD/CAD sellers hopeful, RSI conditions indicate a pullback move from the support line of the stated rising wedge formation on the hourly (1H)… 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.
