HomeContributorsTechnical AnalysisUSD/CAD Trading Below 1.30

USD/CAD Trading Below 1.30

USD/CAD is decreasing after reaching 1.3008(01/06/2018 high), heading along 1.29. Hourlysupport and resistance are located at 1.2621(23/02/2018 low) and 1.3125 (19/03/2018 high).The technical structure suggests short-termdecrease.

In the longer term, the pair is trading betweenresistance point at 1.3805 (05/05/2017 high) andsupport at 1.2128 (18/06/2015 low). Strongresistance is given at 1.4690 (22/01/2016 high).The pair is likely to head lower. The pair istrading above its 200 DMA.

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