12.06 - USD/CAD extends Wednesday’s pullback
- by George Solotarov
Despite recently stepping back from 1.3667, the nine-day high, USD/CAD prints 0.13% gains while taking rounds to 1.3650 during Friday’s Asian session. The quote’s ability to successfully break 100-day EMA gains support from RSI conditions to keep the bulls hopeful.
As a result, the pairs’ further run-up towards a 100-day EMA level around 1.3730 could be anticipated. However, a falling trend line from March 19, at 1.3870, might challenge the quote additional north-run.
It should be noted that the monthly high around 1.3800 could work as a buffer between 1.3730 and 1.3870.