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The surge of the USD/CAD gained momentum during the middle of Thursday's trading, as the rate steeply surged up to the 1.2700 level and the resistance zone of the late April and early March high level zone at 1.2712/1.2724.
A move of the USD/CAD above the resistance zone might encounter resistance in the 1.2750 level, before the pair reaches the combination of the 1.2800 mark and the weekly R2 simple pivot point.
Meanwhile, a decline below the weekly R1 at 1.2696 could look for support in the 1.2650 mark. Further below note the cluster of previously ignored technical levels. Namely, the weekly simple pivot point at 1.2623 and the 50, 100 and 200-hour simple moving averages near 1.2600.
Fri, 10 Jun 2022 09:15:32 GMT
Source: Dukascopy Bank SA
The surge of the USD/CAD gained momentum during the middle of Thursday's trading, as the rate steeply surged up to the 1.2700 level and the resistance zone of the late April and early March high level zone at 1.2712/1.2724.
A move of the USD/CAD above the resistance zone might encounter resistance in the 1.2750 level, before the pair reaches the combination of the 1.2800 mark and the weekly R2 simple pivot point.
Meanwhile, a decline below the weekly R1 at 1.2696 could look for support in the 1.2650 mark. Further below note the cluster of previously ignored technical levels. Namely, the weekly simple pivot point at 1.2623 and the 50, 100 and 200-hour simple moving averages near 1.2600.