USD/CAD declines below 1.2700

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


Eventually, the USD/CAD passed the support of the zone at 1.2713/1.2724, the weekly simple pivot point at 1.2709 and the 1.2700 mark. By the middle of Tuesday's European trading hours, the currency rate had almost reached the 1.2650 level.

If the pair declines below the 1.2650 mark, the rate could look for support in the 200-hour simple moving average at 1.2640, before aiming at the weekly S1 simple pivot point at 1.2620.

On the other hand, a recovery of the rate would face resistance in the form of the 1.2700 mark, the weekly simple pivot point at 1.2709 and the 1.2713/1.2724 zone.
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