USD/CAD technical analysis: Greenback bulls facing tough resistance at the 1.3145 level

0
  • USD/CAD is off multi-month lows as the market is trading above 1.3100.
  • The 1.3145 level is a key resistance to break for USD bulls.

 

USD/CAD daily chart

USD/CAD is trading off multi-month lows as the market is below its main daily simple moving averages (DSMAs).

 

 

USD/CAD 4-hour chart

The market is trading above 1.3100 and the 50 SMA. The level to beat for bulls is 1.3145 strong resistance, according to the Technical Confluences Indicator. Further up lies 1.3170 resistance.

 

USD/CAD 30-minute chart

The market is trading above its main SMAs, suggesting bullish momentum in the near term. Supports are seen near 1.3100 and 1.3080, according to the Technical Confluences Indicator.

 

 Additional key levels

 

Get the 5 most predictable currency pairs

About Author

Comments are closed.