USD/CAD declines to 1.3000

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


The USD/CAD eventually passed below the 1.3060/1.3075 zone, which managed to hold as support for eight hours. On Friday, the pair shortly reached below the 1.3000 mark, before a recovery appeared to have started. By the middle of the day's European trading, the rate had reached the 1.3030 level.

An extension of the US Dollar's recovery against the Canadian Dollar might encounter resistance in the 1.3050 level and the 1.3060/1.3075 zone. Higher above note the 1.3100 mark, which is strengthened by the weekly simple pivot point and the 50, 100 and 200-hour simple moving averages.

On the other hand, a decline of the pair might look for support in the previously failed 1.3000 mark and the weekly S1 simple pivot point at 1.2994. Further below, take into account the 1.2950 and 1.2900 levels.
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