USD/CAD Technical Analysis: Sticking to the 1.3120-1.3155 range

USD/CAD is slowly drifting lower as it is trading below its 200-period simple moving average.
However, USD/CAD is back into the 1.3120-1.3155 trading range and the currency pair is set to stay contained in the range unless there is a strong breakout below or above 1.3120 or 1.3155.

Flavio Tosti Independent Analyst

USD/CAD 15-minute chart

Spot rate: 1.3128
Relative change: -0.21%
High: 1.3166
Low: 1.3107

Trend: Neutral

Resistance 1: 1.3155 June 18 low
Resistance 2: 1.3200 figure
Resistance 3: 1.3271 June 29 high
Resistance 4: 1.3350 figure
Resistance 5: 1.3388, 2018 high
Resistance 6: 1.3543 June 9, 2017 swing high6

Support 1: 1.3120 demand level
Support 2: 1.3066-1.3053 last week’s low and June 5, swing high
Support 3: 1.2974 May 9 high
Support 4: 1.2900 figure

Author

Flavio Tosti

Independent Analyst

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