USD/CAD breaks resistance levels

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


At mid-day on Wednesday, the USD/CAD broke the resistance of the 1.2429/1.2434 zone and the weekly R1 simple pivot point at 1.2443.

If the rate continues to surge, it could eventually encounter resistance in the 1.2496/1.2507 zone. The resistance zone consists of a early October high level, the weekly R2 simple pivot point at 1.2502 and the 1.2500 mark.

A potential decline of the USD/CAD pair might look for support in the 50-hour simple moving average near 1.2400, the 1.2400 mark, the recent low level trend line near 1.2390. Below these levels, the 200-hour SM at 1.2377 and the weekly simple pivot point at 1.2371 might provide additional support.
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