USDCAD intraday technical analysis - 20/04/2018

USDCAD

1.40606 / 1.40614

SUMMARY

Up

TREND

Upward penetration

MA10

Bullish

MA20

Bullish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: Further upside progress might test resistive measure at 1.2676 (R1) later on today. Successful clearance here would open way towards to next target at 1.2705 (R2) and suggest mark at 1.2735 (R3) as final visible aim for today.
Downwards scenario: On the other side, a break below the important support level at 1.2644 (S1) could be a good catalyst for the further downtrend formation. In such scenario lower targets could be exposed at 1.2614 (S2) and 1.2584 (S3) later on today.

Resistance levels: 1.2676 , 1.2705 , 1.2735

Support levels: 1.2644 , 1.2614 , 1.2584