USDCAD Wednesday, January 27


The short-term trend of the US dollar against the Canadian dollar is neutral. From the buyers' point of view, the definitive break of 1.2798 could indicate the formation of a short-term price floor, especially since the upward convergence is seen in the four-hour MACD indicator. In this case, the short-term trend of USDCAD will rise to the resistance of 1.2957. According to sellers, if the pair falls below 1.2588, the downtrend will start from 1.4667 to the estimate of 61.8% of Fibonacci at 1.2355.