USD/CAD remains under pressure below key support-turned-resistance. The 23.6% Fibonacci retracement, September low become likely nearby supports to watch. Following its downside break of near-term key support line, USD/CAD declines to 1.3197during early Asian session on Monday. The pair now aims to visit 23.6% Fibonacci retracement level of May-July south-run, at 1.3145 whereas September month low close to 1.3130 could please sellers afterward. It should, however, be noted that the 14-bar Relative Strength Index (RSI) might drop to oversold territory during further declines and could lure counter-trend traders around 1.3130. On the contrary, pair’s daily closing beyond support-turned-resistance, at 1.3215 now, can trigger fresh pullback to 100-day Simple Moving Average (SMA) level near 1.3240. However, 50% Fibonacci retracement and 200-day SMA becomes a tough barrier around 1.3285/90 for buyers to confront, which if broken could escalate the recovery to monthly tops surrounding 1.3350. USD/CAD daily chart Trend: bearish  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 WTI bulls eye a run towards the 200-DMA FX Street 3 years USD/CAD remains under pressure below key support-turned-resistance. The 23.6% Fibonacci retracement, September low become likely nearby supports to watch. Following its downside break of near-term key support line, USD/CAD declines to 1.3197during early Asian session on Monday. The pair now aims to visit 23.6% Fibonacci retracement level of May-July south-run, at 1.3145 whereas September month low close to 1.3130 could please sellers afterward. It should, however, be noted that the 14-bar Relative Strength Index (RSI) might drop to oversold territory during further declines and could lure counter-trend traders around 1.3130. On the contrary, pair's daily closing beyond support-turned-resistance, at 1.3215… 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.
