USD/CAD passes below support

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


On Tuesday morning, the USD/CAD pair passed below the support of the 1.3600 mark. However, before extending the decline, the pair recovered and found resistance in the combination of the weekly S1 simple pivot point at 1.3647, the 1.3650 level and the 200-hour simple moving average.

A resumption of the decline would have no technical support. Namely, the pair could easily reach the 1.3500 mark. Although, the 1.3670 level could act as support, as it did during Tuesday's morning hours.

Meanwhile, a recovery of the US Dollar against the Canadian currency would have to pass above the 1.3645/1.3660 range. Higher above, the combination of the 1.3700 level and the 50 and 100-hour simple moving averages are highly likely going to act as resistance.
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