USD/CAD Daily Technical Analysis | 26 January 2018
2018-01-26 11:42 am | Resource: Technical Analysis Section | No Views : 290
The pair is currently trading in a bearish direction and the simple moving average 20 is bearish.
RSI 14 broke the bullish trend line during the Asian session this morning.
It is expected that if the pair breaks against the Canadian currency the level of 1.2280 could target the pair 1.2135, on the other hand if the breach of the level of 1.2359 may target the level of 1.2399.
Support: 1.2410 - 1.2328 - 1.2135
Resistance: 1.2238- 1.2135- 1.2061
The pound hit lows against its major counterparts on Thursday, and remained in the red as the Bank of England warned that "another period of uncertain uncertainty" over Brexit could lead to a drop in inflation and disrupt demand. The MPC kept the benchmark interest rate at 0.75% and the bond portfolio at £ 435 billion. Bank of England maintains interest rate The Bank of England has decided to keep…
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