USDCAD ANALYSIS 12/03/2021


USD/CAD trading in downtrend line
price  below SMA 100 , SMA 200
MACD shows decreasing of bearish momentum
RSI in downtrend line below 50

First scenario : if price break major downtrend line and close above HVN around 1.2670 on 4h frame ,it will confirm bullish movement to key level around 1.2900

Second scenario : if price break  support level 1 around 1.2470 and close below it  on 4h frame ,it will confirm bearish  movement to support level 2 around 1.2300

R3: 1.3100
R2: 1.2900
R1: 1.2670
Pivot: 1.2600
S1: 1.2470
S2: 1.2400
S3: 1.2300