USD/CAD Technical Analysis: USD/CAD bulls getting ready to resume the bull trend

  • USD/CAD bulls are taking the lead as the week is coming to an end. Bulls are currently trying to breach the key 1.3120-1.3155 resistance zone. If bulls are successful the 1.3200 figure and 1.3271 June 29 high can become the next targets in the coming sessions.
  • Support are seen near 1.3100-1.3120 area and 1.3053-1.3066 area. 
  • USD/CAD has been in consolidation mode since mid-June and a breakout above 1.3155 would likely see USD/CAD bull trend resuming.  

USD/CAD 15-minute chart

USD/CAD daily chart

Spot rate:                   1.3148
Relative change:        0.75% 
High:                          1.3152
Low:                           1.3040

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:                 1.3100-1.3120 figure and supply/demand level
Support 2:                 1.3053-1.3066 area, June 5 swing high and July 9 low
Support 3:                 1.3022 July 25 low
Support 4:                 1.3000 figure
Support 5:                 1.2974 August 1 swing low
Support 6:                 1.2900 figure
Support 7:                 1.2855 June 6 low

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