USD/CAD seesaws near multi-week-old horizontal support, which in turn holds the gate for medium-term rising support-line. 50% Fibonacci retracement, 50-day EMA offers immediate resistances during the pullback. Despite successfully trading below 50% Fibonacci retracement of October – December upside and 50-day exponential moving average (EMA), USD/CAD is left to break near-term key support as it makes the rounds to 1.3175 during early Tuesday. The pair needs to slip below 1.3150/45 horizontal area including multiple high/lows marked since late-June in order to extend its downward trajectory towards 11-month-old rising trend-line, at 1.3055 now. Moreover, pair’s extended declines below 1.3055 might not hesitate to challenge the yearly bottom surrounding 1.3015 while aiming for mid-October 2018 low near 1.2915. During its pullback, 50% Fibonacci retracement of 1.3226 and 50-day EMA level of 1.3240 could entertain counter-trend traders. However, 1.3300, 38.2% Fibonacci retracement level of 1.3330 and monthly top close to 1.3385 will please buyers past-1.3240. USD/CAD daily 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 US Treasury Secretary Mnuchin: Yuan will be a focus of next round of China talks FX Street 4 years USD/CAD seesaws near multi-week-old horizontal support, which in turn holds the gate for medium-term rising support-line. 50% Fibonacci retracement, 50-day EMA offers immediate resistances during the pullback. Despite successfully trading below 50% Fibonacci retracement of October - December upside and 50-day exponential moving average (EMA), USD/CAD is left to break near-term key support as it makes the rounds to 1.3175 during early Tuesday. The pair needs to slip below 1.3150/45 horizontal area including multiple high/lows marked since late-June in order to extend its downward trajectory towards 11-month-old rising trend-line, at 1.3055 now. Moreover, pair's extended declines below 1.3055 might not… 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.
