USD/CAD Technical Analysis: USD/CAD back to 1.3155 support level after bull attempt at 1.3200 figure
|- USD/CAD is back to the 1.3155 support after bulls tried to break above the 1.3200 figure.
- USD/CAD bullish momentum is slowing down as the price is now below its 50, 100 and 200-period simple moving averages which are all trading flat.
- It appears unlikely that USD/CAD is ripe for a bull breakout in this context as the market might try to reintegrate the 1.3120-1.3155 range once more time. A bear breakout below 1.3155 might lead to a retest of the 1.3120 demand level.
USD/CAD 15-minute chart
Spot rate: 1.3164
Relative change: 0.07%
High: 1.3211
Low: 1.3150
Trend: Neutral
Resistance 1: 1.3200 figure
Resistance 2: 1.3271 June 29 high
Resistance 3: 1.3350 figure
Resistance 4: 1.3388, 2018 high
Resistance 5: 1.3543 June 9, 2017 swing high6
Support 1: 1.3155 June 18 low
Support 2: 1.3120 demand level
Support 3: 1.3066-1.3053 weekly low and June 5, swing high
Support 4: 1.2974 May 9 high
Support 5: 1.2900 figure
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.