The Canadian Dollar (CAD) is trading around 1.3500 versus the US Dollar (USD) during early Asian sessions on Thursday. The Loonie pair surged to a 16-week high on Wednesday after the BoC meeting and is still in the positive territory. However, overbought RSI conditions and near to important resistance-confluence can challenge buyers. While 1.3525 can act as immediate resistance for the quote, an ascending trend-line from late-January and multiple lows from December 24 to January 02 may question the strength of buyers around 1.3565/70. Adding to the buyers’ challenge can be overbought conditions of 14-day relative strength index (RSI). Should the Bulls manage to conquer 1.3570, 1.3610/15 and 1.3665 may offer halts to its rally targeting 1.3700 round-figure. On the downside, March month highs near 1.3470 may act as nearby support, a break of which may recall 1.3440 and 1.3400. Though, 50-day simple moving average (SMA) near 1.3330 and an ascending support-line from October 2018 at 1.3250 could restrict further declines. 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 Bitcoin Technical Analysis: Bulls fail at $5,500 as price goes down to $5,425 FX Street 4 years The Canadian Dollar (CAD) is trading around 1.3500 versus the US Dollar (USD) during early Asian sessions on Thursday. The Loonie pair surged to a 16-week high on Wednesday after the BoC meeting and is still in the positive territory. However, overbought RSI conditions and near to important resistance-confluence can challenge buyers. While 1.3525 can act as immediate resistance for the quote, an ascending trend-line from late-January and multiple lows from December 24 to January 02 may question the strength of buyers around 1.3565/70. Adding to the buyers' challenge can be overbought conditions of 14-day relative strength index (RSI).… 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.
