Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/CAD dips below lower range, bearish bias increases

USD/CAD has declined sharply towards 1.2970 levels, after breaking support level located at 1.3015 as the pair was weighted down by positive Canadian retail sales data and strong surge in oil prices.

  • Currently the currency pair is trading at 1.2975 levels, it is set to decline future towards 1.2900 and later 1.2850 levels in the short term.
  • To the upside, the strong resistance can be seen at 1.3015, a break above will take the pair towards next resistance level at 1.3049.
  • To the downside immediate support can be seen at 1.2940 levels, a break below will open the door towards next level at 1.2905.

Resistance Levels

R1: 1.2980 (38.2% Retracement level)

R2: 1.3015 (50% Retracement level)

R3: 1.3049 (March 17th high)

Support Levels

S1: 1.2940 (38.2% Retracement level)

S2: 1.2905 (23.6% Retracement level)

S3: 1.2828 (Nov 15th lows)

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.