- USD/CAD resumed the main bull rend as it broke above the bull flag.
- USD/CAD tried to break above 1.3200 figure but the bullish incursion was soon met with a bearish counter-attack which almost sent the Loonie back to 1.3100.
- Following the sharp sell-off, the market is likely to continue the consolidation phase up to 1.3048-1.3066 area and the cluster of the main simple moving averages.
USD/CAD 4-hour chart
Spot rate: 1.3141
Relative change: -0.28%
High: 1.3228
Low: 1.3126
Trend: Bullish
Short-term: Bearish
Resistance 1: 1.3200 figure
Resistance 2: 1.3300 figure
Resistance 3: 1.3388, 2018 high
Support 1: 1.3172 August 13 swing high
Support 2: 1.3120-1.3155 zone, supply/demand level and June 18 low
Support 3: 1.3048-1.3066 area, August 14 low and July 9 low
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