USD/CAD approaches 1.3350

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


On Monday, the USD/CAD currency exchange rate was approaching the 1.3350 level. However, it appeared that the 1.3340 level had acted as resistance and the pair declined to look for support in the 50-hour simple moving average near 1.3270.

In the case of a continuous surge of the US Dollar against the Canadian Dollar would encounter strong resistance in the 1.3400 level and the weekly R1 simple pivot point at 1.3396. Higher above, note the 1.3500 mark and the weekly R2 at 1.3528.

On the other hand, a decline below 1.3270 is expected to find support in the 1.3250 level, the July high level at 31.3222 and the support zone that surrounds the 1.3200 mark.
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