USDCAD intraday technical analysis - 22/06/2018

USDCAD

1.32714 / 1.32722

SUMMARY

Down

TREND

Downward penetration

MA10

Bearish

MA20

Bearish

STOCHASTIC

Oversold

MARKET ANALYSIS

Upwards scenario: Despite the gradual market decline we see potential to test our resistive barrier at 1.3301 (R1) later on today. Successful penetration above this mark would keep bullish oriented market participants in play and suggest next intraday targets at 1.3335 (R2) and 1.3370 (R3).
Downwards scenario: Risk of price easing is seen below the freshly created fractal level at 1.3274 (S1). Our initial targets at 1.3237 (S2) and 1.3200 (S3) could be exposed later on today if the volatility remains high.

Resistance levels: 1.3301 , 1.3335 , 1.3370

Support levels: 1.3274 , 1.3237 , 1.3200