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USD/CAD Losing Momentum

USD/CAD dropped a little today because is still under massive selling pressure, but most likely will find a strong support in the upcoming days and will start a rebound. Technically, we should have a bounce back on the short term after the massive drop.

Price extends the sell-off as the USDX could slide further, could approach and reach the 1.2460 major static support, where he may find strong support again. A failure to reach the lower median line (lml) will signal an oversold, this situation will send the rate much higher in the upcoming period.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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