USD/CAD Technical Analysis: Greenback break to new monthly highs above 1.3100 against the Loonie
|- USD/CAD is trading in a bull trend as the 50-period simple moving average (SMA) broke above the 200 SMA.
- USD/CAD broke above the former October highs as it is challenging the 1.3100 figure. The RSI, MACD and Stochastic indicators are constructive for potential gains ahead in the coming sessions.
- The next targets for bulls are likely located near 1.3150 figure and 1.3200 figure. A bear breakout below 1.3048 (August 14 low) would likely be a warning sign for bulls.
Spot rate: 1.3100
Relative change: 0.12%
High: 1.3120
Low: 1.3027
Main trend: Bullish
Resistance 1: 1.3108, September 7 low
Resistance 2: 1.3150 figure
Resistance 3: 1.3200 figure
Support 1: 1.3083 September 27 swing high
Support 2: 1.3048 August 14 low
Support 3: 1.3000 figure
Support 4: 1.2950-59 multi-month key level and August 7 low
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