Home USD/CAD Technical Analysis: USD/CAD near daily lows – Bears eyeing 1.3000 level
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USD/CAD Technical Analysis: USD/CAD near daily lows – Bears eyeing 1.3000 level

  • 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

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