IlyaSpivak

USDCAD pullback brewing ahead?

Short
FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD looks like it may be gearing up for a pullback from resistance below 1.39. The rally from mid-August appears to have run out of momentum after testing an inflection zone that has acted as both support and resistance since May 2017. Negative RSI divergence highlights ebbing bullish vigor. A pullback from here sees initial supports at the 1.36 and 1.35 figures. A break below the latter threshold may open the door for a slide to test resistance-turned-support at 1.3224.

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