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USD/CAD Daily Technical Analysis | 1 February 2018

2018-02-01 09:20 am | Resource: Technical Analysis Section | No Views : 272

During the morning session yesterday to break USD/CAD uptrend landed on the secondary hour interval as a result of pressure and sellers are currently testing the trend line broken back and the pair also 1.2328 area.

USD/CAD Daily Technical Analysis | 1 February 2018

Our neutral view of the pair as long as trading in a narrow range between 1.2286 and 1.2318 areas, and the simple moving average 20 represents a support area.
RSI 14 is still neutral, but today is the result of trading in a narrow range since midday and yesterday's trading.
It is expected that, in the case of breaking the US currency versus the Canadian currency level 1.2386 the pair could target 1.2189, on the other side, in the case of the breach of 1.2318 could target the level of 1.2375.
Resistance: 1.2328- 1.2398- 1.2467
Support: 1.2236- 1.2135 - 1.2100
Trend: Sideway


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