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.

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

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