USD/CAD consolidates after a long rally

27 December, 2018

  • Prev Open: 1.35782
  • Open: 1.35679
  • % chg. over the last day: -0.11
  • Day's range: 1.35662 – 1.36110
  • 52 wk range: 1.2248 – 1.4132

USD/CAD is consolidating after a long rally. There is no singular trend. Luni is testing the key support and resistance levels of 1.32650 and 1.36150. A technical correction is possible soon. Keep an eye on the oil quotes dynamic and open positions from the key levels.

The Economic News Feed for 27.12.2018 is calm.

The indicators do not provide precise signals, the price is testing 50 MA.

The MACD histogram is close to 0.

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


Trading recommendations

  • Support levels: 1.35650, 1.35250, 1.34900
  • Resistance levels: 1.36150, 1.36500

If the price fixes above the resistance level of 1.36150, expect further growth of the USD/CAD quotes. The movement will tend toward 1.36500-1.36700.

Alternatively, the quotes fix below 1.35650 and you should expect a corrective trend toward 1.35300-1.35000.


Source   Presented by JustForex
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