Technical analysis of USD/CAD for February 12, 2019 888011000 110888 Introduction: The USD/CAD pair continues to move upwards from the level of 1.3228. Today, the very first support level is presently seen at 1.3228, the price is moving in a bullish channel now. The rate has been set above the strong support at the level of 1.3228, which corresponds with the 61.8% Fibonacci retracement level. This support has been declined 3 times validating the veracity of an uptrend. According to the previous events, we expect the USD/CAD set to trade between 1.3228 and 1.3328. So, the support stands at 1.3228, while day-to-day resistance is discovered at 1.3328. Therefore, the marketplace is likely to show indications of a bullish trend around the area of 1.3228. To put it simply, purchase orders are suggested above the area of 1.3228 with the first target at the level of 1.3328; and continue towards 1.3295. However, if the USD/CAD pair stops working to break through the resistance level of 1.3328 today, the market will decrease further to 1.3228 or 1.3200. The product has been offered by InstaForex Business-www.instaforex.com

By | February 12, 2019

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