The CAD keeps trading in a long flat

14 December, 2018

  • Prev Open: 1.33504
  • Open: 1.33452
  • % chg. over the last day: +0.01
  • Day's range: 1.33452 – 1.33949
  • 52 wk range: 1.2248 – 1.3445

The USD/CAD technical picture remains ambiguous. The CAD keeps trading in a long flat. The key support and resistance levels are 1.33600 and 1.34000 respectively. Important stats from the US are in the spotlight. You should keep an eye on the oil quotes dynamics. Positions should be opened from the key levels.

The News Feed for Canada is calm.

The price has fixed above 50 MA and 200 MA which indicates the power of the buyers.

The MACD histogram moved into the positive zone which indicates a bullish mood.

The Stochastic Oscillator is in the overbought zone, the %К line is crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.33600, 1.33250, 1.32900
  • Resistance levels: 1.34000, 1.34450

If the price fixes above 1.34000, you should consider entering the market with a long order. USD/CAD quotes will grow toward 1.34000-1.34300.

Alternatively, if the price fixes below 1.33600, we recommend looking for market entry points to open short positions. The movement is tending to 1.33000.

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