USD/CAD Bearish Momentum Below 1.2585 Suggests Continuation

By Nenad Kerkez of Elite CurrenSea
Monday, March 21, 2022 11:16 AM EDT

USD/CAD Technical Analysis

  • 1.2585 break is bearish
  • Interim support 1.2600
  • MA straddling

4H Chart USD/CAD

(Click on image to enlarge)

  1. Swing 1
  2. Higher low
  3. Swing 2
  4. Start of breakout
  5. 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.

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and ...

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