Weekly Technical Analysis Report 23 March – Bearish play seen on USDCAD
March 23, 2022
Weekly Technical Analysis Report 23 March – Bearish play seen on USDCAD
1. This week’s outlook on USDCAD: Bearish play seen
On the daily timeframe, prices are forming lower lows and lower highs where we could see further downside in prices. On the H4 timeframe, a pullback to its resistance at 1.26870, in line with the 38.2% Fibonacci retracement and 78.6% Fibonacci extension could provide an opportunity to play the drop with 1.24564 as the support target. Ichimoku cloud is showing signs of bearish pressure as well, in line with our bearish bias.
Outlook on USDCAD: Bearish play seen by Salzworth on TradingView.com
