USD/CAD grinds near 1.3715-20 as it resists welcoming bulls during the initial hours of the Federal Reserve (Fed) day. In doing so, the Loonie pair struggles to extend the previous day’s recovery moves from the lowest levels in a fortnight inside a two-week-old descending triangle formation.
That said, the quote’s latest hesitance could be linked to the failure to cross the 1.3730 resistance confluence including the 50-SMA and upper line of the stated triangle.
However, the Loonie pair’s ability to provide successful trading above the key SMAs joins the bullish MACD signals and firmer RSI (14), not overbought, keeps the USD/CAD bulls hopeful of overcoming the 1.3730 hurdle.
In that case, the buyers could aim for the monthly high surrounding 1.3865, with the 1.3800 round figure acting as an intermediate halt, before portraying a run-up towards the previous yearly top of 1.3977 and then to the 1.4000 psychological magnet.
On the flip side, the USD/CAD bears need validation from the stated triangle’s lower line, close to 1.3650. Even so, the 200-SMA support near 1.3575 appears a crucial challenge for the sellers to tackle. It’s worth noting that the 100-SMA can offer immediate support near 1.3695.
風險提示：本文所述僅代表作者個人觀點，不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證，對於基於該內容所採取的任何行為，不承擔任何責任，除非另有書面明確說明。
暫無評論，立馬搶沙發