“¢ The US retail sales data-led uptick failed ahead of the 100-hour SMA, with bears dragging the pair below a short-term descending trend-line support on the 1-hourly chart. “¢ Short-term technical indicators maintain bearish bias and hence, a follow-through weakness, back towards the post-BoC swing low, now looks a distinct possibility. “¢ The ongoing slump in crude oil prices, which tends to undermine demand for the commodity-linked currency – Loonie, might turn out to be the only factor extending some support. USD/CAD 1-hourly chart Spot rate: 1.3120 Daily High: 1.3163 Daily Low: 1.3110 Trend: Bearish Support S1: 1.3100 (round figure mark) S2: 1.3072 (S3 daily pivot-point) S3: 1.3032 (50-day SMA) Resistance R1: 1.3161 (100-period SMA H1) R2: 13209 (Friday’s swing high) R3: 1.3270 (horizontal zone) 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 US Trade Rep. Lighthizer: US to challenge five WTO members for imposing illegal tariffs against US products FX Street 5 years "¢ The US retail sales data-led uptick failed ahead of the 100-hour SMA, with bears dragging the pair below a short-term descending trend-line support on the 1-hourly chart. "¢ Short-term technical indicators maintain bearish bias and hence, a follow-through weakness, back towards the post-BoC swing low, now looks a distinct possibility. "¢ The ongoing slump in crude oil prices, which tends to undermine demand for the commodity-linked currency - Loonie, might turn out to be the only factor extending some support. USD/CAD 1-hourly chart Spot rate: 1.3120 Daily High: 1.3163 Daily Low: 1.3110 Trend:… 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.
