HomeContributorsTechnical AnalysisUSD/CAD Moving Towards Support Cluster At 1.3275

USD/CAD Moving Towards Support Cluster At 1.3275

A resistance cluster, formed by the monthly R2 and the weekly R1 near the 1.3347 regions restricted the movement of the USD/CAD currency pair during yesterday’s trading session.

The US Dollar might edge lower towards a support cluster formed by the 200– hour simple moving average and the weekly pivot point at 1.3266 during the following trading session.

If the 200- hour SMA and the weekly PP hold, the currency exchange rate will likely continue its upward movement in the nearest future.

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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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