USDCAD intraday technical analysis - 22/02/2019

USDCAD

1.32243/1.32249

SUMMARY

Down

TREND

Downward penetration

MA10

Bearish

MA20

Bullish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: USDCAD is under the bearish pressure. Though, technical readings suggest possible market strengthening with a break above the next resistance at 1.3231 (R1). In such scenario we would concentrate our focus on the next targets at 1.3256 (R2) and 1.3281 (R3).
Downwards scenario: Any downside extension is limited now to the recently created session low at 1.3202 (S1). Below here we see potential for the price regress towards to next targets at 1.3175 (S2) and 1.3149 (S3) later on today.

Resistance levels: 1.3231 , 1.3256 , 1.3281

Support levels: 1.3202 , 1.3175 , 1.3149