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- The USD/CAD continues yesterday's fall
The USD/CAD continues yesterday's fall
Yesterday the USD/CAD traded down and closed the day in the red zone near the price of C$1.3085. It also fell today, dropping to C$1.3025. However, on the four-hour chart the pair is still above the MA 200 H4 line. 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 H4, it may be necessary to look for entry points to buy at the end of the correction.
Resistances levels are at: С$1.3100, С$1.3160, С$1.3205-20
Support levels are at: С$1.3010, С$1.2970, С$1.2905
Probably, the main scenario is continued growth to C$1.3100 (high of the American session on Sep 8).
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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