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- The USD/CAD remains above MA 200 H1
The USD/CAD remains above MA 200 H1
Yesterday the USD/CAD traded slightly higher and closed the day in positive territory near the price of C$1.3150. Today it has also risen slightly, having risen to C$1.3200. On the hourly chart, USD/CAD is still trading above the MA (200) H1 moving average line (С$1.3090). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the north direction in trading, and as long as the USD/CAD remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
Resistances levels are at: С$1.3205-20, С$1.3295, С$1.3390
Support levels are at: С$1.3100-15, С$1.3065-75, С$1.3010
Probably, the main scenario is continued growth towards C$1.3205 (Sep 1 high).
An alternative scenario is a consolidation below the MA 200 H1 line, followed by a fall to C$1.2905 (Aug 26 low).
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