USDCAD intraday technical analysis - 19/10/2018

USDCAD

1.30247 / 1.30255

SUMMARY

Down

TREND

Downward penetration

MA10

Bearish

MA20

Bearish

STOCHASTIC

Oversold

MARKET ANALYSIS

Upwards scenario: On the upside USDCAD is limited to the next resistive barrier at 1.3087(R1). Clearance here could enable ascending structure and suggest next target at 1.3122 (R2). Final resistance lies at 1.3157 (R3) today.
Downwards scenario: Activation of bearish forces is possible below the support level at 1.3040 (S1). Clearance here would suggest next interim target at 1.3003 (S2) and if the price holds its momentum we would suggest final aim at 1.2966 (S3).

Resistance levels: 1.3087 , 1.3122 , 1.3157

Support levels: 1.3040 , 1.3003 , 1.2966