Permanecer 
Condiciones de negociación
Products
Herramientas
Support levels: 0.9742, 0.9635, 0.9568
Resistance levels: 1.0000, 1.0050, 1.0209
In a 4-hour chart USD/CAD pulls back after a sharp increase. Previously, USD/CAD tested a support level at 0.9742 without success which probably forwarded the currency pair to a parity level. In case it breaks the parity level, the trend turns bullish.
As written before, a fresh upward movement is confirmed by a breakthrough of the downward channel’s upper level and a previously developed MACD /RSI divergence. Moreover, a breakthrough of resistance level at 0.9780-0.9800 signified a new mid-term bottom at 0.9406 and opened the way to 1.0000. In case the price breaks a 1.0000 level, the next upward target will be at 1.0209.
However, short-term signals indicate a downward. In particular, MACD reveals a downfall to its key level, while RSI falls from an overbought level at 70.0. In case the downward movement continues, a breakthrough of a major support level at 0.9400 will forward the price to fresh multi-year minimums. A downward movement to 0.9172, which is a 61.8 Fibonacci Projection level from 1.0670 to 0.9445, can also be expected.
In mid-term trend, a breakthrough of a support level at 0.9930 indicated further mid-term movement from 1.3063 (maximum of 2009) to a 0.9400 target level. However, the downward movement is likely to be a correction and has a strong support level at 0.9056–0.9700.
In case of a pullback, a breakthrough of a 1.0851 level will confirm a breakthrough of the downward trend from 1.3063. In this case USD/CAD is expected to move upward to a resistance level at 1.1126 with a further target at 1.1866.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
