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USD/CAD Daily Technical Analysis | 30 January 2018

2018-01-30 06:43 am | Resource: Technical Analysis Section | No Views : 265

USD/CAD managed to break through the 1.2328 area during the US session yesterday and is still trading sideways as a continuation of trading within a classical symmetrical triangle on the hourly time frame.

USD/CAD Daily Technical Analysis | 30 January 2018

The SMA 20 is neutral as it does not take a clear direction.
RSI 14 is trading in a bullish direction and is still indicating a decline in bulls' determination in the pair.
It is expected that, if the pair breaks the Canadian currency against the Canadian currency level of 1.2280 may target the pair 1.2155, on the other hand if the breach of the level of 1.2359 may target the level of 1.2432.
Resistance: 1.2398- 1.2467 - 1.2328
Support: 1.2328- 1.2236- 1.2135
Trend: Sideway

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