USD/CAD finds support in 1.2800 mark

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


Since the early hours of Thursday's trading, the USD/CAD currency pair has been finding support in the 1.2800 mark. Meanwhile, resistance has been observed to be found in the 100-hour simple moving average near 1.2850.

If the USD/CAD resumes its decline, the rate could aim for the weekly S2 simple pivot point at 1.2717 and the 1.2700 level. However, take into account the 1.2750 level, which might slow down a potential decline.

On the other hand, a recovery of the US Dollar against the Canadian Dollar is expected to encounter resistance in the 100 and 200-hour simple moving averages near 1.2840 and 1.2860, prior to reaching the 1.2900 mark.
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