USD/CAD returns to support range

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The USD/CAD has returned to look for support in the 1.3585/1.3615 range and the 200-day simple moving average. The descent occurred in a narrow channel down pattern that could continue to guide the pair.

A move below the support range is expected to look for support in the 1.3470/1.3515 zone. Further below, note the 1.3350 level that might stop a decline, before the 1.3200 mark is reached.

However, in the case of a recovery and breaking of the pattern, the 50-day simple moving average could act as resistance near 1.3700. Higher above, note the 1.3800 and 1.3850 levels. If these levels fail, the pair will test the 2024 high level at 1.3950.
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