1,2243. USD CAD is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The price should find a resistance below 1,2300 (57 pips). The downtrend should continue to gather momentum.
- 1,2300 - 1,2340
- 1,2200 - 1,2100