USD/CAD keeps the 25-pip range between 1.3295 and 1.3320 while probing the August 12 high. Buyers rely on the confirmation of a bullish chart pattern, 50-day SMA also strengthens the neckline support. USD/CAD seesaws around 1.3310 amid the initial Asian trading on Tuesday. The loonie major confirmed a bullish chart pattern the previous day while rising to the highest in over 1.5 months. Considering the absence of the overbought RSI conditions and sustained trading beyond the neckline of stated inverse head-and-shoulders, bulls are likely to keep reins. As a result, August month’s top near 1.3400 becomes the immediate resistance on optimists’ radar whereas the July 30 peak around 1.3460 can challenge the buyers afterward. If at all USD/CAD remains positive beyond 1.3460, the late-June bottom surrounding 1.3485 can offer an intermediate halt during the rise to the 1.3500 threshold. Alternatively, the pair’s 50-day SMA adds strength to the 1.3265/45 neckline area that becomes the key support for sellers to watch. Should USD/CAD prices drop below 1.3245 on a daily closing, the mid-September bottom close to 1.3130/25 will be in the spotlight. USD/CAD daily chart Trend: Bullish FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/NZD Price Analysis: Bulls seeking a break and restest of overhead resistance FX Street 1 year USD/CAD keeps the 25-pip range between 1.3295 and 1.3320 while probing the August 12 high. Buyers rely on the confirmation of a bullish chart pattern, 50-day SMA also strengthens the neckline support. USD/CAD seesaws around 1.3310 amid the initial Asian trading on Tuesday. The loonie major confirmed a bullish chart pattern the previous day while rising to the highest in over 1.5 months. Considering the absence of the overbought RSI conditions and sustained trading beyond the neckline of stated inverse head-and-shoulders, bulls are likely to keep reins. As a result, August month’s top near 1.3400 becomes the immediate resistance on… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
