- USD/CAD holds lower ground near intraday bottom during the first loss-making day in three.
- Convergence of 21-EMA, horizontal resistance-turned-support from early January challenges sellers.
- Bearish MACD signals, downbeat RSI (14) suggests further downside of the Loonie pair towards monthly low.
USD/CAD reverses from a two-week-old resistance line to print the first daily loss in three around 1.3675 heading into Thursday’s European session. In doing so, the Loonie pair pokes a key support confluence comprising the 21-day Exponential Moving Average (EMA) and a horizontal line stretched from early January, the previous resistance.
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