🍁USD/CAD Refuses To Fall🍁

🍁USD/CAD refuses to fall

🍁Looking at the behaviour of the USD/CAD in recent weeks, it seems that we have fallen into accumulation but do not have the strength for declines.

🍁My stance on USD/CAD remains unchanged, I still believe that at the current juncture increases are much more likely than decreases.

🍁Looking at the technical situation, the fact that we are above the 50 and 200 moving average and the MACD and RSI are generating pro-growth signals. I have no doubts about the validity of counting on increases.

🍁The resistance zone is around a cluster of two fibo levels. The first is 0.382 of the entire last downward wave. The second is the 0.236 level of the wave from the 2021 bottom to the 2022 peak.

🍁I set the support zone around the 1.272 level of the last downward wave.

🍁The scenario I am playing out is a continuation of the upside to the vicinity of the support levels. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

🍁*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

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