USD/CAD Technical Analysis: dives out of rising channel confirming bearish RSI divergence
- The USD/CAD is currently trading at a one-week low of 1.3219, having clocked a high of 1.3268 earlier today.
- The daily chart shows the pair has dived out of the rising channel, validating the bearish divergence of the 14-day relative strength index (RSI).
- The 5- and 10-day exponential moving averages (EMAs) are rolling over in favor of the bears.
- As a result, the spot looks set to confirm the channel breakdown on a daily closing basis. That would open the doors for a test of the 50-day EMA, currently at 1.3143.
Daily chart
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Trend: Bearish
USD/CAD
Overview:
Today Last Price: 1.3224
Today Daily change: -63 pips
Today Daily change %: -0.474%
Today Daily Open: 1.3287
Trends:
Previous Daily SMA20: 1.3215
Previous Daily SMA50: 1.3095
Previous Daily SMA100: 1.3079
Previous Daily SMA200: 1.3001
Levels:
Previous Daily High: 1.3334
Previous Daily Low: 1.3272
Previous Weekly High: 1.336
Previous Weekly Low: 1.3187
Previous Monthly High: 1.336
Previous Monthly Low: 1.3048
Previous Daily Fibonacci 38.2%: 1.331
Previous Daily Fibonacci 61.8%: 1.3296
Previous Daily Pivot Point S1: 1.3262
Previous Daily Pivot Point S2: 1.3237
Previous Daily Pivot Point S3: 1.3201
Previous Daily Pivot Point R1: 1.3323
Previous Daily Pivot Point R2: 1.3359
Previous Daily Pivot Point R3: 1.3384