HomeContributorsTechnical AnalysisDaily Technical Outlook And Review: USD/CAD

Daily Technical Outlook And Review: USD/CAD

Jul 24 17, 07:37 GMT

USD/CAD is approaching 1.25 support, although the next big level now lies at 1.2460. A break beneath that level would likely accelerate negative momentum and push the pair towards 1.22.

However, USD/CAD is indeed quite oversold in the short-term, and we might see a bounce back towards 1.26 before further losses occur.

Stay udpated with our FREE Forex Newsletters

Download our Free Forex Ebook Collection

Tags
CAD
USD

IC Markets http://www.icmarkets.com/

IC Markets is revolutionizing on-line forex trading; on-line traders are now able to gain access to pricing and liquidity previously only available to investment banks and high net worth individuals.

Featured Analysis

Euro Gains as Inflation Data Strengthens Hawkish Case for ECB

Yen Recovers as BoJ Holds Rates; Euro Strengthens Ahead of Inflation…

Dollar Gains on Strong Job Data as Euro Rebounds on GDP

Aussie Struggles Persist as Disinflation Raises Rate Cut Prospects

Daily Technical Outlook And Review: USD/CAD

Featured Analysis

Gold & Dollar: Safe-Haven Retreats

Canada’s Economy Flatlined in August, With a Pickup Expected in September

U.S. Personal Income and Spending Growth Picks Up in September

Euro Gains as Inflation Data Strengthens Hawkish Case for ECB

USD/JPY Soars on BoJ’s Ueda Comments

US Nonfarm Payroll Report: Market Insights

Learn Forex Trading

What is Scalping in Forex Trading?

How Do Traders Manage Risk on Their Trades?

Build a Thriving Career and Healthy Mindset by Managing Trading Fears

Thinking in Probabilities

Three Price Chart Types That You Should Start Using

Finding Great Entries With Fibonacci Analysis