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Usd-cad

USDCAD facing bearish pressure | 01 Apr 2021Prices are facing bearish pressure from 1st resistance which is our horizontal swing high resistance, in line with 78.6% fibonacci retracement and 127.2% fibonacci extension . Prices might push down towards 1st support which is our horizontal swing low resistance in line with 38.2% fibonacci retracement and 61.8% fibonacci extension . If prices break through 1st resistance, it might reach 2nd resistance which is in line with 127.2% fibonacci retracement and 50% fibonacci extension . MACD is also showing bearish pressure as it is going below 0 line.
Short
by FXCM
1
USD set to retain a somewhat firmer tone, Yellen to back...Usd/Cad to almost 1.2800 seems more related to media speculation that incoming US President Biden will take executive action to cancel the Keystone XL Pipeline permit. Meanwhile, mixed Chinese data has not helped the Aussie or Kiwi resist the advances of their US counterpart as the former reverses from just above 0.7700 towards 0.7660 and latter tests bids/support around 0.7100 in the run up to NZIER business sentiment for Q4 and December electronic card retail sales.
Short
by FTUKcom
4
The Euro’s latest gains have been pushed in the footsteps...The Euro’s latest gains have been pushed in the footsteps of the Yuan and on technical grounds to a degree as Eur/Usd eclipsed DMA resistance just below 1.1800 along with decent option expiries between 1.1790 and the round number on the way to 1.1840 and a minor new m-t-d high vs 1.1831 from October 9. 1.1850 is the obvious next upside objective, as Eur/Jpy eyes 125.00, but the single currency lost some momentum vs Sterling into 0.9150 having taken out similar recent tops ahead of the current October best (0.9162 on the 7th of the month) in wake reports that chief EU Brexit negotiator Barnier will return to London this Thursday. Conversely, the Kiwi continues to underperform, albeit off worst levels near 0.6650 on the back of dovish comments from RBNZ Governor Orr overnight (plenty of room to buy more bonds and will be revealed at next month’s policy meeting on QE plus other tools like the FLP). Moreover, Nzd/Usd awaits further developments following another COVID-19 outbreak in Christchurch and the pair looks technically weak having formed a head and shoulders pattern since the end of July. All firmer against the Greenback, as the DXY moves around 93.000 having slipped below last Friday’s 93.005 trough, largely due to the stronger Eur advances as the biggest component of the index. The Franc is now targeting 0.9050, Loonie 1.3100 and Pound has rebounded from a test of 1.2900 given renewed hopes that Barnier’s visit later this week can revive flagging, if not forlorn trade deal prospects. UK COVID stats: Cases +21,331 (prev. +18,804), deaths +241 (prev. +80)
by FTUKcom
1