USD/CAD Technical Analysis: Bulls don’t give up as they look at 1.3000 target
|- USD/CAD main bull trend is on hold since late June, however, bulls have created a double bottom with the August lows.
- The RSI and the MACD indicators are rising while the bulls are challenging the bear trendline (green).
- Bulls objective is to reach the 1.3000 figure and possibly 1.3048 August 14 low if the bulls gather enough steam.
Spot rate: 1.2950
Relative change: -0.05%
High: 1.2974
Low: 1.2933
Main trend: Bullish to Neutral
Resistance 1: 1.2959 August 7 low
Resistance 2: 1.3000 figure
Resistance 3: 1.3048 August 14 low
Resistance 4: 1.3108, September 7 low
Support 1: 1.2885 August 28 swing low
Support 2: 1.2855-65 June 6 low - 200-day SMA
Support 3: 1.2800 figure
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