Sun, Aug 01, 2021 @ 11:12 GMT

USD/CAD Weakening

USD/CAD recovery phase from 1.2528 low pauses after breaking hourly resistance at 1.2848 (04/04/2018), decreasing and heading along the 1.2830 range. Hourly support and resistance are now given at at 1.2504 (06/02/2018 low) and 1.2949 (22/03/2018 high). The technical structure suggests short-term decrease.

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 pair is trading above its 200 DMA.

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