Wed, Feb 01, 2023 @ 10:05 GMT

USD/CAD Consolidation

USD/CAD buying pressures slow down, stabilized along the 1.2815 range. The pair is contained between hourly support and resistance at 1.2668 (26/02/2018 low) and 1.3015 (05/07/2018 high). The short-term technical structure suggests further short-term sideway moves.

In the longer term, the pair is trading between resistance point at 1.3805 (05/05/2017 high) and support at 1.2128 (18/06/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head lower. The pairs is trading above its 200 DMA

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