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1 Apr 2015
USD/CAD might fall to 1.2639-1.2600 – FXStreet
FXStreet (Barcelona) - A failure to rise above 1.2700 levels might push the pair lower to test 1.2639-1.2600, notes FXStreet Editor and Analyst, Omkar Godbole.
Key Quotes
“On the hourly chart, the pair is trading below 1.2694, which is the 23.6% Fib retracement level of 1.2409-1.2782.”
“A failure to rise above 1.27 is could push the pair below the rising trend line support at 1.2662. In such a case, the hourly RSI, currently at 51.00, would also turn bearish, thereby pushing the pair lower to 1.2639-1.26 levels.”
“..another attempt at 1.2730 is possible in case of a better-than-expected US data, however, an hourly close above 1.27 is essential for the pair to rise to 1.2782 levels.”
Key Quotes
“On the hourly chart, the pair is trading below 1.2694, which is the 23.6% Fib retracement level of 1.2409-1.2782.”
“A failure to rise above 1.27 is could push the pair below the rising trend line support at 1.2662. In such a case, the hourly RSI, currently at 51.00, would also turn bearish, thereby pushing the pair lower to 1.2639-1.26 levels.”
“..another attempt at 1.2730 is possible in case of a better-than-expected US data, however, an hourly close above 1.27 is essential for the pair to rise to 1.2782 levels.”