Home USD/CAD Price Analysis: Greenback trading off the May’s lows, holding just above 1.3900 figure
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USD/CAD Price Analysis: Greenback trading off the May’s lows, holding just above 1.3900 figure

FX Street
Updated:
  • USD/CAD stays under selling pressure near the May’s lows. 
  • The level to beat for sellers is the 1.3880 support.
 

USD/CAD four-hour chart

 
USD/CAD is trading below its main SMAs on the four-hour chart suggesting a bearish bias in the medium-term. The spot is trading off the May’s lows as the bears stay in control. A sustained break below the 1.3880 support can lead to extra weakness towards the 1.3820 and 1.3760 levels. Pullbacks can find resistance near the 1.3980, 1.4040 and 1.4080 levels in the medium-term.
  
 
 
Resistance: 1.3980, 1.4040, 1.4080
Support: 1.3880, 1.1.3820, 1.3760
 
 

Additional key levels

 

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