USD/CAD Analysis: moving towards support cluster at 1.3275

Dukascopy Bank Team Dukascopy Bank SA

USD/CAD

A resistance cluster, formed by the monthly R2 and the weekly R1 near the 1.3347 regions restricted the movement of the USD/CAD currency pair during yesterday's trading session.

The US Dollar might edge lower towards a support cluster formed by the 200– hour simple moving average and the weekly pivot point at 1.3266 during the following trading session.

If the 200- hour SMA and the weekly PP hold, the currency exchange rate will likely continue its upward movement in the nearest future.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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