- USD/CAD main bull trend is currently on hold.
- USD/CAD is attempting to break below 1.3000 figure after it found resistance at the flat 100 and 200-period simple moving averages. The RSI, MACD and Stochastics indicators are weakening suggesting lower prices in the session ahead with a potential target at 1.2885 August 28 swing low.
- A bull breakout above 1.3100 would invalidate the bearish bias.
USD/CAD 4-hour chart
Spot rate: 1.3000
Relative change: -0.35%
High: 1.3066
Low: 1.2983
Trend: Bullish
Short-term trend: Bearish
Resistance 1: 1.3048 August 14 low
Resistance 2: 1.3108, September 7 low
Resistance 3: 1.3155 June 18 low
Resistance 4: 1.3172 August 13 swing high
Resistance 5: 1.3200 figure
Resistance 6: 1.3300 figure
Resistance 7: 1.3388, 2018 high
Support 1: 1.3000 figure
Support 2: 1.2959 August 7 low
Support 3: 1.2885 August 28 swing low
Support 4: 1.2855 June 6 low