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USD/CAD Declining

Swissquote Bank SA
By Swissquote Bank SA

USD/CAD is declining from 1.2890 high, approaching the 1.2865 range. USD/CAD sideways trading price action between 1.2815 and 1.2944 started in March is currently maintained. Hourly support and resistance remain at 1.2805 (12/03/2018 low) and 1.3308 (23/06/2017 high). The short-term technical structure suggests short-term decline.

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 DM

Swissquote Bank SA
Swissquote Bank SAhttp://en.swissquote.com/fx
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