Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/CAD awaits US data
Trade ideas
SELL 1.3325; TP 1.3285; SL 1.3340
BUY 1.3370; SL 1.3400; SL 1.3355
USD/CAD is another pair that has the potential to make significant moves in the near term. Last week the pair broke below the uptrend support line from the start of 2018. It now provides resistance together with the 100-day MA at 1.3350.
The United States will release retail sales figures at 15:30 MT time. If the data turn out to be weaker than expected, the break down continues targeting 1.3285/70. The ultimate support is at 1.3120 (200-week MA). If American figures are strong, we’ll target the 1.3400 area on the break above 1.3370.
Elizabeth Belugina
Similar
NZD/USD: is the correction over?
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
Trade setups for AUD/JPY
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
Latest news
Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD: technical outlook
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
Moderna: is it still the leader in COVID-19 fight?
While biotech companies are struggling to find the vaccine, investors make bets who’ll win this race.
Deposit with your local payment systems
