USD/CAD keeps bounces off 1.3192 despite failing to cross 1.3230 immediate resistance. Bullish MACD, normal RSI conditions suggest further recovery. A confluence of 100-HMA, weekly resistance line offers strong upside barrier. USD/CAD seesaws around 1.3220 during the pre-Tokyo open trading on Friday. The loonie pair recently slipped below an immediate descending triangle. However, the downside couldn’t last longer than 1.3192 as RSI turned oversold around then. The following consolidation gains support from upbeat MACD to suggest further recovery moves. Though, buyers are less likely to take a risk of entry unless the pair successfully crosses 1.3230, which if happens will help the bulls attack Tuesday’s low near 1.3270. In a case where the pair remains firmer past-1.3270, a joint to 100-HMA and a descending trend line form Monday, at 1.3300, will be the key to watch. On the downside, 1.3200 and the recent low near 1.3190 may entertain the sellers during the fresh declines. If bears refrain from respecting momentum indicators around 1.3190, January 23 high near 1.3170 can offer an additional filter to the downside before highlighting 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 New Zealand is not yet looking at a level 4 lockdown – The Guardian FX Street 2 years USD/CAD keeps bounces off 1.3192 despite failing to cross 1.3230 immediate resistance. Bullish MACD, normal RSI conditions suggest further recovery. A confluence of 100-HMA, weekly resistance line offers strong upside barrier. USD/CAD seesaws around 1.3220 during the pre-Tokyo open trading on Friday. The loonie pair recently slipped below an immediate descending triangle. However, the downside couldn’t last longer than 1.3192 as RSI turned oversold around then. The following consolidation gains support from upbeat MACD to suggest further recovery moves. Though, buyers are less likely to take a risk of entry unless the pair successfully crosses 1.3230, which if happens will… 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.
