USD/CAD trades above 1.2700

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Source: Dukascopy Bank SA


On Thursday morning, the USD/CAD currency pair reached above the 1.2700 mark. Meanwhile, it appeared that the rate was ignoring the 50 and 200-hour simple moving averages and the weekly simple pivot point at 1.2706.

If the US Dollar surges against the Canadian Dollar, the pair would have no technical resistance as high as the weekly R1 simple pivot point at 1.2776. Above the pivot point, the February high level zone is located at 1.2784/1.2797.

Meanwhile, a potential decline of the currency pair might find support somewhere in the wide February low level zone at 1.2637/1.2665. Note that the weekly S1 simple pivot point was located in the zone at 1.2655.
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Thu, 17 Feb 2022 14:11:12 GMT

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