USD/CAD pulls back from three-month low amid oversold RSI conditions. 61.8% Fibonacci retracement holds the key for the pair’s further recovery. July lows will be on the sellers’ radar during further declines. Having recovered from a three-month low, USD/CAD clings to the yearly support line while taking rounds to 1.3090 during the Asian session on Wednesday. Supporting the recovery is oversold conditions of 14-bar Relative Strength Index (RSI), which in turn questions the strength of 61.8% Fibonacci retracement of late-2018 upside, around 1.3120. Though, pair’s sustained rise past-1.3120 enables it to question September 10 low near 1.3135 before targeting 1.3170/75 resistance area. Alternatively, pair’s declines below medium-term trend line support, at 1.3190 now, can recall July lows nearing 1.3015 back to the charts 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 Goldman Sachs lowers 2020 US oil growth forecast FX Street 3 years USD/CAD pulls back from three-month low amid oversold RSI conditions. 61.8% Fibonacci retracement holds the key for the pair's further recovery. July lows will be on the sellers' radar during further declines. Having recovered from a three-month low, USD/CAD clings to the yearly support line while taking rounds to 1.3090 during the Asian session on Wednesday. Supporting the recovery is oversold conditions of 14-bar Relative Strength Index (RSI), which in turn questions the strength of 61.8% Fibonacci retracement of late-2018 upside, around 1.3120. Though, pair's sustained rise past-1.3120 enables it to question September 10 low near 1.3135 before targeting 1.3170/75… 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.
