USD/CAD trades sideways

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


In the aftermath of the sharp and narrow decline, the USD/CAD currency pair has begun to trade between the support of the weekly S2 simple pivot point at 1.2607 and the resistance zone at 1.2680/1.2687.

If the US Dollar resumes its decline against the Canadian Dollar, the currency pair would have to pass the weekly S2 simple pivot point and the 1.2600 mark, before it approaches the support of the weekly S3 simple pivot point at 1.2496 and 1.2500.

On the other hand, a surge of the USD against the Canadian Dollar might encounter resistance in the 1.2700 mark and the 200-hour simple moving average near 1.2740.
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