USD/CAD broke previous drawn pattern

Dukascopy Bank Team Dukascopy Bank SA

The US Dollar has breached the lower boundary of the previously-active junior channel against the Canadian Dollar. However, the currency pair was not trading below the Monday's trading session's levels.

During the middle of the European trading session, the Buck broke the resistance of the 55– and the 100—hour SMAs which were located near the 1.2580 mark.

Given that the currency exchange rate has broken the previously-drawn pattern, the pair could be heading for a decline.

Interested in USD/CAD technicals? Check out the key levels

1. R3 1.2702
2. R2 1.2664
3. R1 1.2633
PP 1.2594
1. S1 1.2563
2. S2 1.2525
3. S3 1.2494

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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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