USDCAD - Support of key average points higher

Alan Collins 3cAnalysis

Against a background of bullish signals for sentiment for this week yesterday began with selling pressure. That decline took USDCAD back to the 13 day mvg avg but, importantly, that point was not broken. The resulting rebound was not extensive but enough to create a mildly positive bias. So with these factors as a backdrop, this morning’s call is Buy at 1.2935 but leaving room to also buy a 1.2900 dip, yesterday's low. The risk is 1.2873, Thursday’s open, with upside targets of 1.2968, yesterday's top, 1.2985 and last Wednesday’s 1.3019 opening price.

Average Supports

Interested in USDCAD technicals? Check out the key levels

1. R3 1.3032
2. R2 1.2999
3. R1 1.2965
PP 1.2932
1. S1 1.2898
2. S2 1.2865
3. S3 1.2831

Author

Alan Collins

3cAnalysis

Alan has been involved in the financial markets for more than 30-years.

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