USD/CAD buying pressures are starting, the pair is bouncing back from 1.3011 low and expected to rise along the 1.31 range. Hourly support and resistance are given at 1.2805 (12/03/2018 low) and 1.3308 (23/06/2017 high). The short-term technical structure suggests short-term increase.
In the longer term, the pair is trading between resistance point at 1.3805 (05/05/2017 high) and support at 1.2128 (18/06/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head lower. The pairs is trading above its 200 DMA.
