Today at last, the Canadian dollar seems to be ready for a turnback. Yesterday the price was kept at a critical level at 61.8% of a long-term Fibonacci correction. Today’s trading has opened with USD fall against the Canadian currency.
A current downward movement is largely determined by a resistance level at 61.8% of the long-term Fibonacci correction.
As far as other indicators are concerned, there is no signal for a sale, at least on a day chart. In terms of the stochastic oscillator, it reached an overbought area yesterday and has immediately left it today. Therefore, this can be considered as a signal to open positions for a sale.
