USDCAD drops lower
USDCAD analysis shows the Canadian dollar continues to benefit from weakness in the greenback as prices collapse. On the chart, the pair is currently hitting a firm support just above the 1.3600 level.
Prices are now looking to test higher, with the recent swing high at 1.3660 the first obstacle.
A decisive breakout would shake out some sellers and give the buy side a chance to regain some momentum.
Otherwise, a fall below 1.3600 could cause a prolonged bearish run.
USDCHF grinding support
Like the Canadian dollar, the Franc has also seen considerable gains against the US dollar. A move below the firm support of 0.7900 accelerated the move to the downside.
As prices hit a multi-month low, bears will be aiming to consolidate their stance by breaking the 0.7800 level.
As the RSI remains heavily oversold, if 0.7800 holds as firm support, a turnaround could push prices above 0.7860.
EURJPY eyeing a lift
The euro attempts to break out of the recent downturn and move above the 183.00 area.
On the downside, a tentative break below 182.90 is the first step towards a bearish extension.
The Yen is looking to hold on to some gains to pull prices lower towards 182.50.
184.00 would be the bulls’ first target for a brief turnaround.
Comments
Log in or sign up to join the conversation.