USD/CAD breaks resistance zone

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


At mid-day on Monday, the USD/CAD broke the resistance zone at 1.2610/1.2620. On Tuesday morning, the currency rate had passed above the 1.2650 mark and the weekly R1 simple pivot point at 1.2654.

A continuation of the surge of the US Dollar versus the Canadian Dollar might result in a the pair testing the resistance of the 1.2700 mark. Higher above, note the weekly R2 simple pivot point at 1.2745.

However, a decline of the currency pair might look for support in the 1.2610/1.2620 zone and the 50-hour simple moving average, prior to declining to the 1.2600 mark. Further below, note the 100-hour simple moving average near 1.2580 and the 1.2561/1.2566 zone.
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