USD/CAD Price Analysis: Crosses 1.2785 resistance to snap two-day downtrend

USD/CAD regains upside momentum after marking two-day losses.
Upside damage of 50-HMA, weekly falling fashion line joins less assailable Momentum line to want buyers.
200-HMA, 61.8% Fibonacci retracement avoid bear’s entry earlier than fortnight-old help line.
USD/CAD pierces temporary key hurdle to the north as bulls assault 1.2800 threshold, up 0.14% intraday close to 1.2795 at some stage in early Thursday.

In addition to a sustained ruin of 50-HMA and weekly descending vogue line breakout, a more impregnable Momentum line provides to the bullish bias for the USD/CAD.

Hence, 1.2850 is on the playing cards beforehand of the month-to-month pinnacle close to 1.2900.

However, any similarly upside previous 1.2900 will now not hesitate to venture the each year top of 1.2949.

Alternatively, the resistance-turned-support close to 1.2785 restricts on the spot draw back of the USD/CAD costs in advance of the 200-HMA stage surrounding 1.2715.

Also difficult the USD/CAD agents is 61.8% Fibonacci retracement of September 10-20 upside, as properly as a two-week-old horizontal area, respectively close to 1.2700 and 1.2695.


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