USD/CAD Technical Analysis: USD/CAD advances to 11-week’s high reaching 1.3080

  • USD/CAD is spiking higher and reached the 1.3084 level as the USD is having a boost across the board and crude oil is having a pullback. 
  • However, USD/CAD is evolving in a tight trading range and new highs are more often than not supply levels. 

USD/CAD 15-minute chart

Spot rate:                   1.3072
Relative change:        0.65%     
High:                          1.3084
Low:                           1.2947

Trend:                         Neutral to bullish

Resistance 1:            1.3084 current week’s high
Resistance 2:            1.3130 current high of 2018 
Resistance 3:            1.3200 figure

Support 1:                 1.3020 former congestion zone
Support 2:                 1.2947 current week’s low and 5-period daily SMA
Support 3:                 1.2919 Last Friday’s low
Support 4:                 1.2857 June 6 low

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