- USD/CAD is retracing more than 23.6% of the losses it took last week. It is currently testing the 1.3200 level, the 200-period simple moving average and the bearish trendline.
- If the market fails to break above the 1.3200 level, USD/CAD can rotate lower towards 1.3155 while a breakout above 1.3200 can lead to an acceleration towards 1.3271 last Friday’s high.
USD/CAD 15-minute chart
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Spot rate: 1.3188
Relative change: 0.55%
High: 1.3212
Low: 1.3139
Trend: Bearish
Resistance 1: 1.3200 figure
Resistance 2: 1.3271 last Friday’s high
Resistance 3: 1.3350 figure
Resistance 4: 1.3388, 2018 high
Resistance 5: 1.3543 June 9, 2017 swing high
Support 1: 1.3155 June 18 low
Support 2: 1.3100 figure
Support 3: 1.3053 breakout point
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