USD/CAD Technical Analysis: Greenback out of ammunition leaves USD/CAD exposed to downside

USD/CAD most likely made a last desperate attempt to break above 1.3350 June 21, 2017 swing high as bears squashed bull’s expectations.
USD/CAD bears will probably try to break below 1.3266 Wednesday’s low in order to drive Loonie towards the 1.3200 level in the coming sessions.

Flavio Tosti Independent Analyst

USD/CAD 15-minute chart

Spot rate: 1.3311

Relative change: -0.27%

High: 1.3277
Low: 1.3260

Trend: Bearish

Resistance 1: 1.3350 June 21, 2017 swing high
Resistance 2: 1.3383, current week's high
Resistance 3: 1.3543 June 9, 2017 swing high

Support 1: 1.3266 Wednesday’s low
Support 2: 1.3200 figure
Support 3: 1.3155 former supply/demand level

Author

Flavio Tosti

Independent Analyst

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