1,0746. USD CAD is in an downtrend directed by 4H exponential moving averages. USD CAD is in a consolidation after the last bearish movement. The volatility is high. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. daily ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The consolidation should continue. The price should find a resistance below 1,0760 (14 pips). If the resistance breaks then the target will be 1,0820 (74 pips).
- 1,0760 - 1,0820
- 1,0690 - 1,0635