Sun, Apr 02, 2023 @ 06:40 GMT
HomeContributorsTechnical AnalysisUSD/CAD Short-Term Bullish Pressures Continue

USD/CAD Short-Term Bullish Pressures Continue

USD/CAD continues to move higher. Strong support is now located at a distance 1.2062 (08/09/2017 low). Resistance given at 1.2390 (20/09/2017 high) has been broken. Expected to show continued short-term bullish pressures.

In the longer term, the pair has broken longterm support that can be found at 1.2461 (16/03/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head further lower.

Swissquote Bank SA
Swissquote Bank SA
Trading foreign exchange, spot precious metals and any other product on the Forex platform involves significant risk of loss and may not be suitable for all investors. Prior to opening an account with Swissquote, consider your level of experience, investment objectives, assets, income and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not speculate, invest or hedge with capital you cannot afford to lose, that is borrowed or urgently needed or necessary for personal or family subsistence. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Featured Analysis

Learn Forex Trading