Technical Analysis
16.10.2020, 06:05

USD/CAD is testing the MA 200 H1 resistance

Yesterday the USD/CAD was trading higher and closed the day in positive territory around the C$1.3220. Today it was trading in a narrow range of С$1.3215-35, staying close to yesterday's closing price. On the hourly chart, USD/CAD is testing the resistance - the MA (200) H1 (С$1.3195) moving average line. The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the southern direction in trading and until the pair finally consolidates above MA 200 H1, it may be necessary to look for entry points to sell on the formation of a correction.

  • Resistances levels are at: С$1.3255, С$1.3285, С$1.3340

  • Support levels are at: С$1.3180, С$1.3100-15, С$1.3075

Probably, the main scenario - is a continuation of the decline to C$1.3180 (low of the American session on Oct 15). An alternative scenario - may be consolidation above MA (200) H1 with a subsequent rise to C$1.3340 (Oct 7 high).

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location