USD/CAD recovers on Thursday

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


The USD/CAD currency pair did not properly reach the support of the 1.2850 level, before starting an upwards move. At mid-day on Thursday, the pair had reached back up to the 1.2930 level.

In regards to the near term future, a potential extension of the recovery would face resistance at the 1.2950 mark. Moreover, the 100-hour simple moving average might act as resistance near 1.2940. Higher above, note the 200-hour SMA near 1.2985 and the 1.3000 level.

However, a decline of the US Dollar against the CAD is expected to once again find support in the 1.2850 level and the 1.2820/1.2835 zone.
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