- USD/CAD bulls are eager to resume the main bull trend after the drop seen on Tuesday.
- USD/CAD has found support at the 1.3048 level (August 14 low), the 200-period simple moving average (SMA) and the bear trendline from June 27. USD/CAD is seen consolidating up towards 1.3108 (September 7 low) and possibly to 1.3155 (June 18 low).
- However, a bear breakout below 1.3048 would invalidate the short-term bullish momentum.
Spot rate: 1.3069
Relative change: -0.02%
High: 1.3080
Low: 1.3041
Trend: Bullish
Resistance 1: 1.3108, September 7 low
Resistance 2: 1.3155 June 18 low
Resistance 3: 1.3172 August 13 swing high
Resistance 4: 1.3200 figure
Resistance 5: 1.3300 figure
Resistance 6: 1.3388, 2018 high
Support 1: 1.3048 August 14 low
Support 2: 1.3000 figure
Support 3: 1.2959 August 7 swing low
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