Home USD/CAD Technical Analysis: USD/CAD back to 1.3155 support level after bull attempt at 1.3200 figure
FXStreet News

USD/CAD Technical Analysis: USD/CAD back to 1.3155 support level after bull attempt at 1.3200 figure

  • USD/CAD is back to the 1.3155 support after bulls tried to break above the 1.3200 figure.  
  • USD/CAD bullish momentum is slowing down as the price  is now below its 50, 100 and 200-period simple moving averages which are all trading flat.  
  • It appears unlikely that USD/CAD is ripe for a bull breakout in this context as the market might try to reintegrate the 1.3120-1.3155 range once more time.  A bear breakout below 1.3155 might lead to a retest of the 1.3120 demand level.

USD/CAD 15-minute chart  

Spot rate:                   1.3164
Relative change:        0.07%  
High:                          1.3211
Low:                           1.3150

Trend:                         Neutral
 

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 weekly low and June 5, swing high
Support 4:                 1.2974 May 9 high
Support 5:                 1.2900 figure

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.