Market Overview

USD/CAD Technicals – Doji Candle at 50% Fib Retracement hints Bearish Reversal/Pullback

Daily Chart

Doji Candle seen just just around 50% Fib Retracement (from 4th Jun high to 15th Sep low) Support can be found around 38.2% Fib Retracement near 0.995.

Break below 0.995 opens up next support level at 0.99 and 0.975 and ultimately 2012 Low around 0.965.

Next level of resistance above previous swing high of 1.004/5 would be 1.013 around 61.8% Fib.

 

Get OANDA's exclusive weekly Market Pulse FX

Email Address: Preferred Format:

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: News Forex Global Markets Trading Ideas

 

Related Articles

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional