USD/CAD finds support in 100-hour SMA

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


The currency pair's decline eventually ended at the 100-hour SMA at midnight to Tuesday. By the middle of the day, the pair had recovered and was testing the resistance of the 1.3300 mark.

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 the 100-hour SMA is expected to find support in the 1.3250 level, the July high level at 1.3222 and the support zone that surrounds the 1.3200 mark.
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