In spite of breaking 12-week old descending trendline, the USD/CAD pair struggles around 1.3430 ahead of European open on Monday. The support-line, previous resistance, at 1.3420 grabs immediate market attention as a break of which can quickly drag the quote 1.3390 and then to the March 13 and 15 high near 1.3370. During the pair’s additional weakness past-1.3370, 50-day simple moving average (SMA) near 1.3280 could appear in focus. It should also be noted that pair’s declines under 1.3280 can avail supports around 200-day SMA level of 1.3190, followed by an upward sloping support-line since October 2018 at 1.3180. Meanwhile, current month high around 1.3470 seems favorite of buyers til they manage to hold the pair above 1.3430. Moreover, 1.3500 and 1.3530 can offer intermediate stops to the price rally beyond 1.3470 towards multiple resistances near 1.3660-70. USD/CAD daily chart 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 GBP/USD Technical Analysis: Break above 1.3210 would confirm pennant breakout FX Street 4 years In spite of breaking 12-week old descending trendline, the USD/CAD pair struggles around 1.3430 ahead of European open on Monday. The support-line, previous resistance, at 1.3420 grabs immediate market attention as a break of which can quickly drag the quote 1.3390 and then to the March 13 and 15 high near 1.3370. During the pair's additional weakness past-1.3370, 50-day simple moving average (SMA) near 1.3280 could appear in focus. It should also be noted that pair's declines under 1.3280 can avail supports around 200-day SMA level of 1.3190, followed by an upward sloping support-line since October 2018 at 1.3180. Meanwhile,… Regulated 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.
