USD/CAD bounces off 1.2700

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


On January 24, the USD/CAD bounced off the resistance of the 1.2700 level. Since then, the rate has been trading sideways above the 1.2630 mark and the weekly R1 simple pivot point at 1.2632.

A decline below the 1.2630 level, the rate might aim at the 50-hour simple moving average near the 1.2600 mark. Below the 1.2600 level, the weekly simple pivot point at 1.2542 and the 200-hour simple moving average could provide support.

Meanwhile, a surge above the 1.2700 mark would have first have to test the weekly R2 simple pivot point at 1.2679. Higher above, note the 1.2750 level and the weekly R3 simple pivot point at 1.2770.
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