USD/CAD Technical Analysis: USD/CAD bulls keep market above 1.3155 support

  • USD/CAD has found support at 1.3155 support after the currency pair pulled back from its daily high. 
  • USD/CAD bias is quite bullish, especially if the market stays above the 1.3120-1.3155 area. The momentum is not particularly strong but remains healthy as USD/CAD trades above its 200-period simple moving average.
  • USD/CAD bulls next objective is to breakout above the descending trendline and the 1.3200 resistance to then target 1.3271 June 29 high.

USD/CAD 15-minute chart 

Spot rate:                   1.3167
Relative change:        -0.31% 
High:                          1.3221
Low:                           1.3148

Trend:                         Bullish

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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