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USD/CAD Technical Analysis: Still bullish above 1.3200 figure

  • USD/CAD resumed the main bull rend as they broke above the bull flag. 
  • USD/CAD is trading above its main simple moving averages (50, 100 and 200 SMA) but they are still relatively flat and the 50 SMA has not yet crossed above the 100 and 200 SMA suggesting the market is not yet in full bull trend mode.
  • USD/CAD remains bullish above 1.3200 however repeated failure to break above the level can lead to a pullback in the 1.3120-1.3155 zone. 

USD/CAD 4-hour chart

Spot rate:                   1.3189
Relative change:        0.01% 
High:                          1.3208
Low:                           1.3157

Trend:                         Bullish 

Resistance 1:            1.3200 figure 
Resistance 2:            1.3300 figure
Resistance 3:            1.3388, 2018 high


Support 1:            1.3172 August 13 swing high 
Support 2:            1.3120-1.3155 zone, supply/demand level and June 18 low
Support 3:            1.3048-1.3066 area, August 14 low and July 9 low

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