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Since Thursday, the USD/CAD pair has been fluctuating between a support zone at 1.2561/1.2566 and resistance at 1.2610/1.2620.
A move below the support zone might result in the pair looking for support in the 100-hour simple moving average near 1.2550 and the 1.2540 level. Further below, take into account the weekly simple pivot point at 1.2528 and the 200-hour simple moving average near 1.2520.
However, a potential surge above 1.2620 is expected to find resistance in the 1.2650 level and the weekly R1 simple pivot point at 1.2654.
Mon, 11 Apr 2022 09:49:02 GMT
Source: Dukascopy Bank SA
Since Thursday, the USD/CAD pair has been fluctuating between a support zone at 1.2561/1.2566 and resistance at 1.2610/1.2620.
A move below the support zone might result in the pair looking for support in the 100-hour simple moving average near 1.2550 and the 1.2540 level. Further below, take into account the weekly simple pivot point at 1.2528 and the 200-hour simple moving average near 1.2520.
However, a potential surge above 1.2620 is expected to find resistance in the 1.2650 level and the weekly R1 simple pivot point at 1.2654.