USDCAD intraday technical analysis - 23/08/2017

USDCAD

1.28192 / 1.282

SUMMARY

Down

TREND

Downward penetration

MA10

Bullish

MA20

Bearish

STOCHASTIC

Neutral

MARKET ANALYSIS

Upwards scenario: Current price setup is limited to resistive structure at 1.2590 (R1) on the upside. Clearance here is required to create upside pressure and expose next target at 1.2623 (R2). Our final aim locates today at 1.2657 (R3).
Downwards scenario: Risk of further price downgrade is seen below the support barrier at 1.2558 (S1). Break here is required to enable our intraday targets at 1.2525 (S2) and 1.2493 (S3) on the downside.

Resistance levels: 1.2590 , 1.2623 , 1.2657

Support levels: 1.2558 , 1.2525 , 1.2493