Technical Overview of Important CAD Pairs: 18.01.2019

Anil Panchal
Updated
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USD/CAD

Having reversed from 1.3325-15 resistance, the USDCAD is declining towards 1.3210 but the ten-week old ascending support-line, at 1.3185, could confine the pair’s downside then after. Should prices continue trading southwards past-1.3185, the 1.3125 and the 1.3080 may offer intermediate halts during the pair’s slip to 1.3055. If at all the pair manage to surpass the 1.3325 upside barrier, the 1.3380 & the 1.3420 can please buyers prior to challenging them with 1.3440-45 resistance-region. Given the pair’s ability to cross the 1.3445 mark, the 1.3500 & the 1.3565 might gain market attention.

EUR/CAD

Alike USDCAD, the EURCAD is also gradually slipping in direction to a TL support, at 1.5060, which if broken highlights the importance of 1.5000 psychological magnet. During the pair’s sustained dip beneath 1.5000, the 1.4950 & the 1.4900 seem to be buffers ahead of fetching the quote to 1.4845 support. Alternatively, the 1.5170 trend-line resistance can limit the pair’s nearby advances, breaking which 1.5180 & 1.5240 could appear on Bulls’ radars. However, the 1.5300-1.5310 horizontal-zone may restrict the pair’s rally above 1.5240, if not then 1.5400 can come back on the chart.

NZD/CAD

Failure to overcome the 0.9075-85 resistance-area presently drags the NZDCAD to 0.8950 support-line, breaking which the 0.8930, the 0.8915 and the 0.8900 may entertain the sellers. Though, pair’s refrain to respect the 0.8900 round-figure might not hesitate calling the 61.8% FE level of 0.8870 as a quote. Meanwhile, the 0.9000 & the 0.9030 can act as adjacent resistances for the pair before fueling it to the 0.9060 resistance-line. Should prices surge past-0.9060, the 0.9075-85 and the 0.9110 can become optimists favorites.

This article was originally posted on FX Empire

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