USD/CAD analysis: Trades sideways

Dukascopy Bank Team Dukascopy Bank SA

USD/CAD

The decline of the USD/CAD appears to have ended, as the rate has been trading sideways in a set range since the middle of Thursday's trading hours. Namely, the pair is trading between the support of the 1.2765 level and the resistance of the 1.2810 mark.

If the currency exchange rate passes the resistance of the 1.2810 level, the rate could find resistance in the 50-hour simple moving average near 1.2825.

Meanwhile, a decline of the USD against the CAD could find support in the 200-hour SMA at 1.2750, before reaching the support zone at 1.2710/1.2728.

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Dukascopy Bank Team

Dukascopy Bank SA

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