- USD/CAD had a test of the 1.3100 figure but the market stayed contained below it throughout the session.
- USD/CAD bearish bias remains unchanged as long as the currency stays below the 1.3120-1.3155 area.
- The main scaling points to the downside are likely located near the 1.3000 figure and 1.2974 May 9 high while strong resistance is seen near the 1.3100 figure.
USD/CAD 15-minute chart
Spot rate: 1.3016
Relative change: -0.15%
High: 1.3098
Low: 1.2990
Trend: Bearish
Resistance 1: 1.3022 last week low
Resistance 2: 1.3053-1.3066 area June 5 swing high and July 9 low
Resistance 3: 1.3100-1.3120 figure and supply/demand level
Resistance 4: 1.3155 June 18 low
Resistance 5: 1.3200 figure
Resistance 6: 1.3271 June 29 high
Resistance 7: 1.3350 figure
Resistance 8: 1.3388, 2018 high
Resistance 9: 1.3543 June 9, 2017 swing high
Support 1: 1.3000 figure
Support 2: 1.2974 May 9 high
Support 3: 1.2900 figure