USD/CAD Bearish Momentum Below 1.2585 Suggests Continuation

Analyst, Full-Time Trader • Mar 21, 2022 at 11:16 AM EDT

The USD/CAD is still bearish. The price is straddling the moving averages and it indicates that the trend is followed towards the next support.

USD/CAD Technical Analysis

1.2585 break is bearish
Interim support 1.2600
MA straddling

4H Chart USD/CAD

(Click on image to enlarge)

Swing 1
Higher low
Swing 2
Start of breakout
Target

The USD/CAD is still bearish. The price is straddling the moving averages and it indicates that the trend is followed towards the next support. Interim support is 1.2600. The break of support is targeting 1.2585 previous low and strong level to break. If 1.2585 breaks then 1.2530 and 1.2454 could be targets. Deeper correction only above 1.2687 – weekly resistance.

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