USD/CAD remains chopped between 200-bar SMA and the monthly support line. Normal RSI conditions suggest continuation of the sideways moves. Sellers can aim for the sub-1.3100 area on the trend line break, key Fibonacci retracements may lure bulls above SMA. USD/CAD fades bounce off intraday low of 1.3169 around 1.3176 during the pre-Tokyo open trading on Thursday. In doing so, the quote stays inside the key technical indicators, namely 200-bar SMA and an ascending trend line from September 01, amid the normal RSI conditions. While the traders are funneling down the breakout points, odds of recovery from the multi-day lows marked during the early-month become high. As a result, buyers will look for a clear break above the 200-bar SMA level of 1.3193 to aim 50% and 61.8% Fibonacci retracement of USD/CAD fall from July 30 to September 01, respectively around 1.3230 and 1.3280. On the contrary, a downside break of the mentioned support line, at 1.3166 now, will break the 1.3100 threshold to revisit the September 04 low around 1.3045. Though, the monthly bottom close to 1.2995 may question the bears afterward. All in all, USD/CAD is gradually inching closer to the breakout points and is worth watching with an upside bias. USD/CAD four-hour chart Trend: Sideways 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: XAG/USD bulls stay hopeful even as MACD flirts with bears FX Street 2 years USD/CAD remains chopped between 200-bar SMA and the monthly support line. Normal RSI conditions suggest continuation of the sideways moves. Sellers can aim for the sub-1.3100 area on the trend line break, key Fibonacci retracements may lure bulls above SMA. USD/CAD fades bounce off intraday low of 1.3169 around 1.3176 during the pre-Tokyo open trading on Thursday. In doing so, the quote stays inside the key technical indicators, namely 200-bar SMA and an ascending trend line from September 01, amid the normal RSI conditions. While the traders are funneling down the breakout points, odds of recovery from the multi-day lows… 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.
