USD/CAD is highly volatile

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


Since the middle of Tuesday's GMT trading hours, the USD/CAD has been highly volatile. The high volatility could be explained by the Tuesday's publication of US Producers Price Index at 13:30 GMT and the Wednesday's US Consumer Price Index release at 13:30 GMT.

During the high volatility, the rate has been mostly ignoring technical support and resistance levels. However, the rate has been respecting a couple of round exchange rate levels. Namely, the 1.2450 and 1.2460 have acted as resistance. Meanwhile, the 1.2400 mark has been providing some support.

In the case of a surge, the rate could find resistance in round exchange rate levels. Although, the target of a larger surge could be the 1.2500 mark, the zone that surrounds it and the weekly R1 simple pivot point at 1.2503.

A decline of the USD/CAD could find support in the 1.2400 mark, before reaching the support zone below the 1.2380 mark and the weekly S1 simple pivot point at 1.2375.
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Wed, 10 Nov 2021 17:50:31 GMT

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