USD/CAD Price Analysis: Bears are in the market, but bulls flexing

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 66 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 72%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

USD/CAD Price Analysis: Bears are in the market, but bulls flexing USDCAD Technical Analysis

Support is playing its role and there is a focus on the Fibo scale.

The Canadian Dollar strengthened on the back of data showing the domestic economy grew stronger than expected in the first quarter.Meanwhile, Canada's economy expanded at an annualized rate of 3.1% in the first quarter, eclipsing forecasts for an increase of 2.5%, and likely accelerated further in April.The price is sinking below prior support and is now heading toward the next area of support as illustrated on the charts. A pullback could be on the verge of a correction.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 14. in BR

Brasil Últimas Notícias, Brasil Manchetes