USD/CAD Collapse

USD/CAD is trying to bounce following recent downturn at 1.2589, breaking hourly support at 1.2668 (26/02/2018) and heading along the 1.2620 range. Hourly support and resistance are now given at 1.2567 (13/02/2018 low) and 1.3308 (23/06/2017 high). The short-term technical structure suggests short-term upward moves..

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 pair is trading below its 200 DMA.

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