USD/CAD Technical Analysis: Greenback bulls challenging 1.3200 resistance

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  • USD/CAD rejected the 1.3120-1.3155 trading range and is now challenging the 1.3200 figure. USD/CAD is also trying to break a major trendline on the daily chart. 
  • If buyers can overcome the 1.3200 resistance they should be able to reach higher targets near 1.3271 June 29 high and 1.3350 figure. Support is the notorious 1.3120-1.3155 area.  

USD/CAD 15-minute chart 

Spot rate:                   1.3191
Relative change:        0.41% 
High:                          1.3196
Low:                           1.3108

Trend:                         Bullish
 
Resistance 1:            1.3200 figure  
Resistance 2:            1.3271 June 29 high
Resistance 3:            1.3350 figure
Resistance 4:            1.3388, 2018 high
Resistance 5:            1.3543 June 9, 2017 swing high6

Support 1:                 1.3155 June 18 low   
Support 2:                 1.3120 demand level
Support 3:                 1.3066-1.3053 last week’s low and June 5, swing high
Support 4:                 1.2974 May 9 high
Support 5:                 1.2900 figure

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