USD/CAD within a consolidative tone

USD/CAD within a consolidative tone

USD/CAD is entering a consolidation phase across the board after having made a rebound above the 1.2543, which has been proven as a strong support in the short-term. During Monday’s session, the pair found resistance in the Fibonacci level of 38.2% at 1.2614 and it targets to make another leg higher. If that happens, then we might expect a continuation to test the 50% Fibo level at 1.2637, ahead of a pullback towards the -23.6% Fibo zone at 1.2498.

RSI indicator stays in the negative territory, favoring to the bears in the short-term.



Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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