Thursday, October 15, 2026

Technicals

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USD/CAD trades well below major trend line support, targets 1.2950

Major support – 1.3150 (trend line joining 1.24607 and 1.27638). Major resistance -1.31900 Loonie has broken major trend line support at 1.31500 and closed well below that level in weekly chart. It is currently trading a…

By FxWirePro Team
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USD/CAD trades well below major trend line support, targets 1.2950
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  • Major support – 1.3150 (trend line joining 1.24607 and 1.27638).
     
  • Major resistance -1.31900
     
  • Loonie has broken major trend line support at 1.31500 and closed well below that level in weekly chart. It is currently trading around 1.30380.
     
  • On the lower side major support stands at 1.3000 and any break below will drag the pair down till 1.2950 (89 – W EMA)/1.2820Sep 2016 low).
     
  • The major resistance is around 1.3200 and any violation above targets 1.3250/1.3300 level. Overall trend reversal only above 1.3590 level.

    It is good to sell on rallies around 1.3055-1.3060 with SL around 1.3150 for the TP of 1.2955/1.2830

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By FxWirePro Team