USDCAD intraday technical analysis - 16/02/2018

USDCAD

1.41343 / 1.41353

SUMMARY

Down

TREND

Downward penetration

MA10

Bearish

MA20

Bearish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: On the upside potential is seen for a break above the resistance at 1.2472 (R1). In such case we would suggest next target at 1.2505 (R2) and any further rise would then be limited to final resistance at 1.2538 (R3).
Downwards scenario: Next support level is seen at 1.2432 (S1), any penetration below it might activate downside pressure and enable lower target at 1.2401 (S2). Any further market decline would then be limited to 1.2371 (S3).

Resistance levels: 1.2472 , 1.2505 , 1.2538

Support levels: 1.2432 , 1.2401 , 1.2371