USD/CAD got rejected at the 1.2800 psychological level, which also happens to fall below the 200-day SMA on Jan 6, these technical levels kickstart the pair bearish phase. The price fell by almost 200point before hitting another Quasimodo support zone at 1.2630, which creates a ripple in the price and gives a chance for the buyers to push the up to 1.2700 that falls below the 50.0% fib correction zone.
A short position is good after another correcting hit the 21 or 50 days SMAs.
A short position is good after another correcting hit the 21 or 50 days SMAs.
