USD/CAD Daily Technical Analysis | 31 January 2018
2018-01-31 08:35 am | Resource: Technical Analysis Section | No Views : 276
The pair is still trading sideways as it continues to trade within the classical pattern, and the SMA 20 is still neutral.
RSI 14 Our neutral view of the trading result in a narrow range and also the result of breaking the ascending trend line without confirmation.
It is expected that if the pair breaks the Canadian currency at 1.2308, the pair may target 1.2189, while breaching 1.2346 might target 1.2433.
Resistance: 1.2398- 1.2467 - 1.2328
Support: 1.2328- 1.2236- 1.2135
The pound added to losses on Wednesday after outgoing European Commission President Jean-Claude Juncker warned there was a "real" risk of Britain leaving the EU to a deal where there is little time for talks. Meanwhile, data from the British Office for National Statistics (ONS) showed that UK producer prices rose 1.6% in August and inflation fell to 1.7% last month. UK inflation fell to 1.7% in August Annual price…
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