USD/CAD stays bid as bulls attack key SMA hurdle. Strong RSI, US dollar upside favor confirmation of the bullish chart pattern. Bears need to refresh weekly low for fresh entry. USD/CAD prints mild gains while taking rounds to the intraday high, currently up 0.12% around 1.2685, during early Friday. The quote’s bounce off 1.2575 the previous day portrays a bullish chart pattern, inverse head-and-shoulders, on the four-hour (4H) play. It should, however, be noted that the pair currently battles a 200-bar SMA level of 1.2700 before the neckline of the stated chart formation, at 1.2717 now, could test the USD/Cad bulls. Given the upbeat RSI joining strong US dollar moves, USD/CAD is set to trigger a theoretical run-up of nearly 300-pips from 1.2717. Though, highs marked during February and January, respectively around 1.2845 and 1.2880, not to forget the late December tops near 1.2960, can offer intermediate halts during the rally. Alternatively, sellers may refrain from entries unless witnessing a fresh weekly low under 1.2575 wherein the 1.2600 threshold offers immediate support. Following the USD/CAD drop past-1.2575, February’s multi-month low near 1.2515 will be easily conquered to test the 1.2500 round-figure. USD/CAD four-hour chart Trend: Further upside 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 Saudi’s Aramco foresees quick pick up in oil demand FX Street 1 year USD/CAD stays bid as bulls attack key SMA hurdle. Strong RSI, US dollar upside favor confirmation of the bullish chart pattern. Bears need to refresh weekly low for fresh entry. USD/CAD prints mild gains while taking rounds to the intraday high, currently up 0.12% around 1.2685, during early Friday. The quote's bounce off 1.2575 the previous day portrays a bullish chart pattern, inverse head-and-shoulders, on the four-hour (4H) play. It should, however, be noted that the pair currently battles a 200-bar SMA level of 1.2700 before the neckline of the stated chart formation, at 1.2717 now, could test the USD/Cad… 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.
