FX.co ★ USD/CAD analysis for February 19, 2020 - Watch for bigger drop on the USD/CAD and potential test of 1.3125

Technical analysis:

USD/CAD has been trading downside, exactly what I expected in previous forecasts. I still expect bigger drop on the USD/CAD towards the levels at 1.3125 and even 1.3030.

Watch for selling opportunities on the rallies using the intraday time-frames 5/15 minutes for better timing for your entries.

MACD slow line did turn to the downside and it is confirm potential bigger drop on the USD/CAD.

Resistance levels are seen at the price of 1.3270 and 1.3330

Support levels and downward targets are set at the price of 1.3125 and 1.3030.