The recovery of the US Dollar against the Canadian Dollar has reached a resistance zone. Namely, the previous low level zone at 1.2713/1.2730 kept the pair down from Thursday evening up to the middle of Friday.
A move above the resistance zone would most likely find resistance in the 200-hour SMA and the weekly S1 simple pivot point near 1.2750. Above the 1.2750 level, the weekly simple pivot point at 1.2803 might stop a recovery of the USD against the CAD.
However, a move down could look for support in the 50-hour SMA near 1.2675. Below the SMA, note the weekly S2 and S3 simple pivot points at 1.2662 and 1.2611.
