- Analytics
- Market analysis
- Technical Analysis
- The USD/CAD remains below MA 200 H1
The USD/CAD remains below MA 200 H1
On Friday, the USD/CAD traded higher and closed the day in the positive territory near the price of C$1.3220. Today it was trading in a narrow range of C$1.3215-30, staying close to Friday's closing price. On the hourly chart, USD/CAD is still trading below the MA (200) H1 moving average line (С$1.3240). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the USD/CAD remains below MA 200 H1, it may be necessary to look for entry points for selling at the end of the correction.
Resistances levels are at: С$1.3235, С$1.3255, С$1.3290
Support levels are at: С$1.3170, С$1.3095-05, С$1.3000
Probably, the main scenario is the continued decline to C$1.3170 (the low of the American session on Jul 14).
The alternative scenario is a final consolidation above the MA 200 H1 line, followed by an increase to C$1.3385 (Jul 7 high).
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
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.
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 teletrade.org. 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 pr@teletrade.global.
Bank transfers
