USD/CAD Technical Analysis: USD/CAD back to 1.3140 ahead of BoC

USD/CAD is reintegrating last week’s tight trading range between 1.3120 and 13155 after USD/CAD broke above 1.3155 and tested the 1.3170 level earlier in the European session.
USD/CAD is now attempting to find support at the 200-period simple moving average, the bullish trendline and the 1.3120 level.
The Bank of Canada Interest Rate Decision is scheduled for 14:00 GMT. The event usually leads to lots of volatility.

Flavio Tosti Independent Analyst

USD/CAD 15-minute chart

Spot rate: 1.3135
Relative change: 0.16%
High: 1.3176
Low: 1.3108

Trend: Bullish

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 high

Support 1: 1.3120 demand level
Support 2: 1.3053 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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