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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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