USD/CAD Technical Analysis: March 14, 2017
The big picture featured a positive tone within the market. The US dollar hovered around the ascending channel. The sell-off that recently occurred turned the major towards the lower limit. The American currency lies in the narrow flat in the middle ranges of 1.3470 and 1.3440 yesterday. The price appeared neutral on the back of sell-off on Friday. Other than that, traders calmly wait and trade before the Fed Reserve meeting.
The spot maintained its position on top of the moving averages that pointed upwards as set out in the 4-hour chart. Resistance is shown at 1.3470, support take hold of 1.3400 region.
The MACD histogram softened which confirmed weakening of the buyer’s stance. RSI seem neutral.
The technicals indicate a further downward ex
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