USD/CAD Technical Analysis: Greenback bulls challenging 1.3200 resistance

USD/CAD rejected the 1.3120-1.3155 trading range and is now challenging the 1.3200 figure. USD/CAD is also trying to break a major trendline on the daily chart.
If buyers can overcome the 1.3200 resistance they should be able to reach higher targets near 1.3271 June 29 high and 1.3350 figure. Support is the notorious 1.3120-1.3155 area.

Flavio Tosti Independent Analyst

USD/CAD 15-minute chart

Spot rate: 1.3191
Relative change: 0.41%
High: 1.3196
Low: 1.3108

Trend: Bullish

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 last week’s low and June 5, swing high
Support 4: 1.2974 May 9 high
Support 5: 1.2900 figure

Author

Flavio Tosti

Independent Analyst

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