Technical Analysis
30.11.2023, 07:22

The USD/CAD fell slightly after yesterday's growth

Yesterday, the USD/CAD traded higher and closed the day in positive territory around the price of 1.3585. Today, on the contrary, the pair fell a little, dropping to the level of 1.3575. On the hourly chart, USD/CAD is still trading below the moving average line MA (200) H1 (1.3660). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.

Resistances levels are at: 1.3615, 1.3660, 1.3685

Support levels are at: 1.3540, 1.3525, 1.3500

Probably, the main scenario is a continued decline to 1.3540 (Nov 29 low).

The alternative scenario is consolidation above the MA 200 H1 line, followed by growth to 1.3770 (Nov 17 high).

Quotes
Symbol Bid Ask Time
AUDUSD 0.63079 0.63083 15:20:18
EURUSD 1.04668 1.04675 15:20:18
GBPUSD 1.24037 1.24042 15:20:18
NZDUSD 0.57014 0.57018 15:20:19
USDCAD 1.4333 1.43336 15:20:19
USDCHF 0.90672 0.90678 15:20:19
USDJPY 156.46 156.466 15:20:19
XAGEUR 29.509 29.542 15:20:19
XAGUSD 30.896 30.914 15:20:17
XAUUSD 2782.88 2783.01 15:20:19

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