USD/CAD Technical Analysis: Greenback bulls reach almost the 1.3350 target
|- USD/CAD is grinding higher for sixth consecutive day. Bulls have almost reach the 1.3350 June 21, 2017 swing high.
- Although the trend is bullish it is reasonable to expect some profit-taking near 1.3350. If the level is breached to the upside the next bull’s target should become the 1.3543 June 9, 2017 swing high.
- If USD/CAD fails to beak above 1.3350 a rotation towards the 1.3200 figure can be on the cards.
USD/CAD 15-minute chart
Spot rate: 1.3323
Relative change: 0.09%
High: 1.3337
Low: 1.3283
Trend: Bullish
Resistance 1: 1.3337, current weekly high
Resistance 2: 1.3350 June 21, 2017 swing high
Resistance 3: 1.3543 June 9, 2017 swing high
Support 1: 1.3266 Wednesday’s low
Support 2: 1.3200 figure
Support 3: 1.3155 former supply/demand level
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