The pair is rebounding more than 100 pips, after the loonie's weakness due to the oil price decline. The 23.60% fibo marked between 1.0563 and 1.0453 could brake the downwards impulse. However, if that level is broken, the price has chances to consolidate with the 50 days MA.The next resistance is at 1.0563 Canadian dollars per US dollar. The bands of Bollinger show a volatility of 120 pips in the hour, while the RSI is on neutral ground. The Stochastic shows buying signs, right now.
Join the Discussion