- USD/CAD has once again broken below the 1.3000 figure but earlier in the week all such attempts resulted in failed breakout below the level.
- However, this time around bulls might have grown tired of supporting the market. If Friday closes below 1.3000 the market might be getting ready for a bearish continuation towards 1.2900 figure. If the day closes above 1.3000 then the status quo is likely to stay unchanged with more of the same.
- Resistances are seen near 1.3000, 1.3022 and 1.3053-1.3066 area.
USD/CAD 15-minute chart
Spot rate: 1.2976
Relative change: -0.37%
High: 1.3041
Low: 1.2971
Trend: Bearish
Resistance 1: 1.3000 figure
Resistance 2: 1.3022 last week low
Resistance 3: 1.3053-1.3066 area, June 5 swing high and July 9 low
Resistance 4: 1.3100-1.3120 figure and supply/demand level
Resistance 5: 1.3155 June 18 low
Resistance 6: 1.3200 figure
Resistance 7: 1.3271 June 29 high
Resistance 8: 1.3350 figure
Resistance 9: 1.3388, 2018 high
Resistance 10: 1.3543 June 9, 2017 swing high
Support 1: 1.2974 May 9 high
Support 2: 1.2900 figure
Support 3: 1.2855 June 6 low