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USD/CAD Trading Below 1.26

Swissquote Bank SA
By Swissquote Bank SA

USD/CAD is trading lower following recent rise above 1.26, breaking hourly support at 1.2567 (13/02/2018). The pair is heading along the 1.2560 range. Hourly support and resistance are now given at 1.2504 (06/02/2018 low) and 1.2755 (22/02/2018 high). The short-term technical structure suggests short-term decrease.

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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