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- The USD/CAD fell slightly after yesterday's growth
The USD/CAD fell slightly after yesterday's growth
Yesterday, the USD/CAD traded higher and closed the day in positive territory around the price of 1.3585. Today, on the contrary, the pair fell a little, dropping to the level of 1.3575. On the hourly chart, USD/CAD is still trading below the moving average line MA (200) H1 (1.3660). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the southern direction in trading and while the pair remains below MA 200 H1, it may be necessary to look for entry points to sell for the formation of a correction.
Resistances levels are at: 1.3615, 1.3660, 1.3685
Support levels are at: 1.3540, 1.3525, 1.3500
Probably, the main scenario is a continued decline to 1.3540 (Nov 29 low).
The alternative scenario is consolidation above the MA 200 H1 line, followed by growth to 1.3770 (Nov 17 high).
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