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  • USD/CAD has been trading in a tight trading range for two days in a row.  
  • Market participants are likely awaiting the result of the US Non-Farm Payrolls (NFP) on Friday to find directionality in the pair.  
  • The momentum of the last five days has been bearish and bears want to break below the 1.3100 figure in order to resume the bear trend towards 1.3053 and 1.2974 May 9 high.  

USD/CAD 15-minute chart

Spot rate:                   1.3131

Relative change:         -0.08%
 
High:                          1.3162
Low:                           1.3112

Trend:                          Neutral to bearish below 1.3200

Resistance 1:            1.3155 June 18 low            
Resistance 2:            1.3200 figure  
Resistance 3:            1.3271 last Friday’s high
Resistance 4:            1.3350 figure
Resistance 5:            1.3388, 2018 high
Resistance 6:            1.3543 June 9, 2017 swing high

Support 1:                 1.3100 figure
Support 2:                 1.3053 breakout point
Support 3:                 1.2974 May 9 high