USD/CAD Technical Analysis: Big bears offering Friday surprise as the market is reversing down sharply to 1.3050 level
|- USD/CAD is trading in a bull trend above the 200-period simple moving average.
- USD/CAD found strong resistance at the 1.3150 resistance as the market is reversing sharply.
- Bears are likely to drive the market at least to 1.3053 October 15 high and to 1.3000 if the bears gather enough traction.
Spot rate: 1.3078
Relative change: 0.05%
High: 1.3160
Low: 1.3069
Main trend: Neutral
Resistance 1: 1.3083 September 27 swing high
Resistance 2: 1.3108, September 7 low
Resistance 3: 1.3150 figure
Support 1: 1.3053 October 15 high
Support 2: 1.3000 figure
Support 3: 1.2950-59 multi-month key level and August 7 low
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