Thursday, October 15, 2026

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USD/CAD: Bullish and Bullish Divergence

Pattern formed – Bullish AB= CD Pattern Bullish Divergence (RSI and MACD) Loonie formed a bottom around 1.29684 and jumped sharply from that level. It is currently trading around 1.30274. Short term trend is slightly bul…

By FxWirePro Team
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USD/CAD: Bullish and Bullish Divergence
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  • Pattern formed – Bullish AB= CD Pattern
     
  • Bullish Divergence (RSI and MACD)
     
  • Loonie formed a bottom around 1.29684 and jumped sharply from that level. It is currently trading around 1.30274.
     
  • Short term trend is slightly bullish as long as support 1.2950 holds.
     
  • On the higher side, minor resistance is around 1.30750 (5- day MA) and any break above will take the pair till 1.3123 (10- day MA)/1.3160.
     
  • The major support is around 1.29500 and any break below will drag the pair till 1.2900 (161.8% fibo)/1.2820 (Sep 6th 206 low).
     
  • Overall trend reversal only above 1.35885.

    It is good to buy on dips around 1.3000 with SL around 1.2950 for the TP of 1.3120/1.3160

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By FxWirePro Team