USD/CAD recovery reaches above 1.3150

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


With the start of a new month, the USD/CAD broke the resistance of the 1.3150 mark. By the middle of Thursday's trading, the pair appeared to be finding support in the exchange rate level.

An extension of the ongoing USD surge against the Canadian Dollar might encounter resistance in the 1.3200 mark, the July high level at 1.3222, the 1.3250 level and the weekly R3 simple pivot point at 1.3266.

However, a decline of the currency pair would have to pass the 1.3150 level, before it reaches the 50-hour SMA near 1.3110, the 1.3100 mark and the weekly R1 simple pivot point at 1.3098. Further below, take into account the 1.3060/1.3075 zone and the 100-hour simple moving average.
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