USD/CAD Technical Analysis: USD/CAD back to 1.3155 support level after bull attempt at 1.3200 figure

  • USD/CAD is back to the 1.3155 support after bulls tried to break above the 1.3200 figure. 
  • USD/CAD bullish momentum is slowing down as the price is now below its 50, 100 and 200-period simple moving averages which are all trading flat. 
  • It appears unlikely that USD/CAD is ripe for a bull breakout in this context as the market might try to reintegrate the 1.3120-1.3155 range once more time. A bear breakout below 1.3155 might lead to a retest of the 1.3120 demand level.


USD/CAD 15-minute chart 

Spot rate:                   1.3164
Relative change:        0.07% 
High:                          1.3211
Low:                           1.3150

Trend:                         Neutral
 

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

Support 1:                 1.3155 June 18 low   
Support 2:                 1.3120 demand level
Support 3:                 1.3066-1.3053 weekly low and June 5, swing high
Support 4:                 1.2974 May 9 high
Support 5:                 1.2900 figure

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