USDCAD intraday technical analysis - 11/12/2017

USDCAD

1.34094 / 1.34103

SUMMARY

Down

TREND

Downward penetration

MA10

Bearish

MA20

Bearish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: Further upside progress is possible above the next resistive structure at 1.2880 (R1). Clearance here is required to enable higher targets at 1.2915 (R2) and 1.2950 (R3) in potential.
Downwards scenario: Recently created session low provides an important support level at 1.2822 (S1). A surge lower is liable to initiate bearish pressure and expose our next target at 1.2777 (S2). Final support for today locates at 1.2732 (S3).

Resistance levels: 1.2880 , 1.2915 , 1.2950

Support levels: 1.2822 , 1.2777 , 1.2732