USD/CAD main bull trend has switched to neutral as the market broke below the 200-day simple moving average (SMA). The 1.2800 figure has been holding since Monday while USD/CAD is trading far away from its simple moving averages, suggesting a potential return to the mean. The RSI and Stochastics indicators have left the oversold condition while the MACD is slowly turning bullish. All-in-all a potential rebound to 1.2882-1.2900 (September 20 low and figure) can be on the cards for bulls. A bear breakout below 1.2800 would invalidate the short-term bullish bias. USD/CAD 4-hour chart Spot rate: 1.2826 Relative change: -0.01% High: 1.2843 Low: 1.2796 Main trend: Bullish to neutral Resistance 1: 1.2855-65 June 6 low – 200-day SMA Resistance 2: 1.2882 September 20 low Resistance 3: 1.2959 August 7 low Resistance 4: 1.3000 figure Resistance 5: 1.3048 August 14 low Resistance 6: 1.3108, September 7 low Resistance 7: 13200 figure Support 1: 1.2800 figure Support 2: 1.2727 May 11 low Support 3: 1.2600 figure 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 AUD/JPY: eyes on USD/CNH, USD/JPY and DXY while AUD/USD holds below key 0.72 confluence level FX Street 4 years USD/CAD main bull trend has switched to neutral as the market broke below the 200-day simple moving average (SMA). The 1.2800 figure has been holding since Monday while USD/CAD is trading far away from its simple moving averages, suggesting a potential return to the mean. The RSI and Stochastics indicators have left the oversold condition while the MACD is slowly turning bullish. All-in-all a potential rebound to 1.2882-1.2900 (September 20 low and figure) can be on the cards for bulls. A bear breakout below 1.2800 would invalidate the short-term bullish bias. USD/CAD 4-hour chart Spot rate: … 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.
