USD/CAD intraday: the downside prevails as long as

USD/CAD intraday: the downside prevails as long as 1.2613 is resistance

USDCAD

Trading Central 2021-02-24 04:58:14

Our pivot point stands at 1.2613.

Our preference: the downside prevails as long as 1.2613 is resistance.

Alternative scenario: the upside breakout of 1.2613, would call for 1.2645 and 1.2664.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.2603 and 1.2602).

Supports and resistances:

1.2664 **

1.2645 *

1.2613 **

1.2601

1.2586 last

1.2537

1.2518 **

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