Failure to hold recent highs, slip beneath 23.6% Fibonacci retracement portrays the USD/CAD pair’s weakness. Momentum indicators also flash signs of bulls’ exhaustion. Not only failure to rise beyond short-term ascending resistance-line but decline below 23.6% Fibonacci retracement of latest up-moves since mid-July also portrays the USD/CAD pair’s bullish exhaustion while it trades near 1.3200 during early Monday. Adding to the bearish signals are 14-bar relative strength index (RSI) and 12-bar moving average convergence and divergence (MACD). With this, the pair can aim for 50% Fibonacci retracement around 1.3140 during further declines. However, 100-bar moving average (4H 100MA) at 1.3120 could restrict additional downpour, if not then 1.3090 could be on sellers’ radar. On the upside, 1.3235 and a recent high near 1.3267 may please buyers during the pullback ahead of challenging them with nine-day-old ascending trend-line, at 1.3270. USD/CAD 4-hour 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 EUR/USD technical analysis: Peeps above 200-hour MA, bulls need a break above 1.1162 FX Street 4 years Failure to hold recent highs, slip beneath 23.6% Fibonacci retracement portrays the USD/CAD pair's weakness. Momentum indicators also flash signs of bulls' exhaustion. Not only failure to rise beyond short-term ascending resistance-line but decline below 23.6% Fibonacci retracement of latest up-moves since mid-July also portrays the USD/CAD pair's bullish exhaustion while it trades near 1.3200 during early Monday. Adding to the bearish signals are 14-bar relative strength index (RSI) and 12-bar moving average convergence and divergence (MACD). With this, the pair can aim for 50% Fibonacci retracement around 1.3140 during further declines. However, 100-bar moving average (4H 100MA) at 1.3120… 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.
