USD/CAD recovers on Wednesday

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


The USD/CAD currency exchange rate's recovery from the low level zone at 1.2500 has reached the 1.2580 level. On Wednesday, it was spotted that the pair kept finding resistance in the 1.2580 level and support was being provided by the combination of the 1.2540 mark and the 50-hour simple moving average.

If the pair passes the 1.2580 level, it could reach for the last week's high level zone at 1.2595/1.2605. Above the zone, the weekly R1 simple pivot point provides resistance at 1.2637.

On the other hand, a decline below the 50-hour SMA and the 1.2540 level would most likely result in a decline to the weekly simple pivot point at 1.2512, the 200-hour SMA at 1.2502 and the support zone that surrounds the 1.2500 mark.
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