The Analytical Overview Of The Main Currency Pairs - Thursday, Apr. 22

Yesterday, the USD/CAD pair showed a strong downward movement, which led to a -0.91% fall. It happened due to the statement of the Bank of Canada that interest rates may be raised soon. At the moment, the currency pair is below the moving average. The MACD indicator is in the negative zone. Based on the above, it is worth selling the instrument.

Trading recommendations

  • Support levels: 1.2475, 1.2364
  • Resistance levels: 1.2560, 1.2628

At the moment, selling is considered. The entry point should be sought after the price breaks through and consolidates below the 1.2475 level.

Alternative scenario: after the price breaks out and consolidates above the level of 1.2559, buying up to 1.2628 should be considered.

(Click on image to enlarge)

USD/CAD

News feed for 2021.04.22:

  • – US Initial Jobless Claims at 15:30 (GMT+3);
  • – US Second Home Sales (Mar) at 17:00 (GMT+3).
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Disclosure: This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, ...

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