USD/CAD declines to 1.2700

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Source: Dukascopy Bank SA


During the early hours of Monday's trading, the USD/CAD currency exchange rate shortly reached below the combined support of the 1.2700 mark, the weekly simple pivot point at 1.2705 and the 50-hour simple moving average. However, by the middle of the day's European trading hours, the US Dollar had recovered and approached the 1.2750 mark against the Canadian Dollar.

The recovery of the pair might encounter resistance in the 1.2750 mark, before approaching the resistance zone, which is located below 1.2800. Higher above, note the weekly R1 simple pivot point at 1.2822.

On the other hand, a decline of the pair might find support in the 200-hour simple moving average near 1.2725. Further below note the weekly simple pivot point at 1.2705, the 1.2700 mark and the 50-hour simple moving average.
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