USD/CAD Technical Analysis: Greenback climbs back above the 1.3000 level

  • USD/CAD found support at the current week’s low near 1.2950 and is now hovering just below the 1.3020 level. 
  • Despite a strong USD demand across the board USD/CAD remains essentially range bound this week in a 100-pip range between the 1.2950 and 1.3050 level. 

USD/CAD 15-minute chart

Spot rate:                   1.3000
Relative change:        0.09%     
High:                          1.3013
Low:                           1.2947

Trend:                         Neutral to bullish

Resistance 1:            1.3020 current Thursday’s high and former congestion zone
Resistance 2:            1.3053-1.3069 current week and last week's high
Resistance 3:            1.3130 current high of 2018 

Support 1:                 1.2947 current week’s low and 5-period daily SMA
Support 2:                 1.2919 Last Friday’s low
Support 3:                 1.2857 June 6 low

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