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USD/CAD Daily Technical Analysis | 26 January 2018

2018-01-26 11:42 am | Resource: Technical Analysis Section | No Views : 290

USD/CAD breached resistance at 12338 during yesterday's trading and continued to rally up to 1.2389 areas and started to fall from these levels due to weak bulls.

USD/CAD Daily Technical Analysis | 26 January 2018

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
Trend: Down

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