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USD/CAD Technical Analysis: Greenback spikes up and approaches three-day highs against CAD

FX Street
Updated:
  • USD/CAD is spiking to new weekly highs above the 1.3200 handle.
  • The level to beat for bulls is the 1.3260 resistance.  
 
 

USD/CAD daily chart

 
 
The loonie on the daily chart is trading above the 1.3200 handle between the 50 and 200-day simple moving average (DMA).
 
 

USD/CAD four-hour chart

 
 
USD/CAD is challenging the 1.3260 resistance while above the main SMAs. A daily break above the level can lead to further strength towards the 1.3296 and 1.3330 levels, according to the Technical Confluences Indicator.  
 

 

USD/CAD 30-minute chart

 
 
USD/CAD is trading above its main SMAs, suggesting a bullish momentum in the near term. Support is seen at the 1.3241, 1.3213 and 1.3180/65 price zone, according to the Technical Confluences Indicator.  
 

Additional key levels

 

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