USD/CAD Technical Analysis: US Dollar losing about 80 pips ahead of FOMC
|- USD/CAD lost about 80 pips after attempting to break above last week’s high at 1.3069.
- In the current trading range environment, the recent sell climax is likely to be consolidated in the coming hours.
- However, investors need to be aware that the FOMC meeting rate decision is scheduled at 18:00 GMT and can bring high volatility to all USD-related currency pairs.
USD/CAD 15-minute chart
Spot rate: 1.2976
Relative change: -0.29%
High: 1.3048
Low: 1.2965
Trend: Neutral to bullish
Resistance 1: 1.3000 figure
Resistance 2: 1.3069 last week's high
Resistance 3: 1.3130 current high of 2018
Support 1: 1.2953 current Monday’s low, 5-period daily SMA
Support 2: 1.2919 Last Friday’s low
Support 3: 1.2857 June 6 low
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