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Farooq

Technical Analysis – USDCAD _ 22-03-2019

HomeTechnical AnalysisTechnical Analysis – USDCAD _ 22-03-2019
22
Mar
Technical Analysis – USDCAD _ 22-03-2019

Following the neckline of the upside-down head and shoulders pattern shown on the chart, the pair rose yesterday to settle above the 50 and 100 SMA, which supports the possibility of further gains towards 1.3435 (the former target), 1.3545 as the second target and resistance at 1.3655. As a third target.
A break of the last bottom of 1.3245 might be enough to end the bullish scenario and could press the pair to test 1.3130 support as first target and then support 1.3000 as a second target


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