Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
20 Jul 2021

USD/CAD Price Analysis: Overbought RSI triggers pullback from five-month top above 1.2700

  • USD/CAD consolidates recent gains around the highest levels since February.
  • Overbought RSI conditions favor pullback, 200-DMA breakout keeps buyers hopeful.

USD/CAD sellers attack intraday low near 1.2740, down 0.07% on a day, amid Tuesday’s Asian session. The Loonie pair jumped to the highest since early February before stepping back from 1.2807.

The profit-booking moves gain support from overbought RSI conditions to direct intraday sellers toward the 50% Fibonacci retracement of September 2020 to June 2021 downside, around 1.2715.

However, the 200-DMA and multiple tops marked in April, around 1.2620, will challenge the pair’s weakness past 1.2715.

Should USD/CAD fail to bounces off 1.2620, the early month high near 1.2590 and June’s peak of 1.2487 will lure the bears.

Meanwhile, the fresh upside will aim for the previous day’s high of 1.2807 before challenging the 61.8% Fibonacci retracement level near 1.2885.

Also likely to question USD/CAD bulls is the late December high close to 1.2960 and the 1.3000 threshold.

USD/CAD: Daily chart

Trend: Pullback expected

 

Jul 20, 2021

Gold Price Forecast: Bears waiting to target $1,700

At the time of writing, gold is a touch lower in Asia at $1,811.11 following a trip to the downside early in the US session. There was a round turn ov
Read more Previous
Jul 20, 2021

USD/CNY fix: 6.4855 vs prev close 6.4905

In recent trade today, the People’s Bank of China (PBOC) set the yuan (CNY) reference rate at 6.4855 vs the previous fix of 6.4700 and the previous cl
Read more Next