FX.co - USD/CAD analysis for March 29, 2023 - Potential for the further downside movement

2023-03-29T06:16:22

Relevance until2023-03-30

Technical analysis:

USD/CAD analysis for March 29, 2023 - Potential for the further downside movement

USD/CAD has been trading uspide this morning but I see potential for the bear flag pattern and downside continuation.

Due to the breakout of the key support zone at the price of 1.3630 and light rally, I see potential for the further downside continuation.

Downside objective is set at the price of 1.3550

MACD oscillator showing neutral position.

Key intraday resistance is set at the price of 1.3630

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ USD/CAD analysis for March 29, 2023 - Potential for the further downside movement