Back

USD/CAD Technical Analysis: Ranging below 1.3100 post US-GDP

  • USD/CAD is stuck in a tight 35-pip trading range this Friday. USD/CAD is keeping a bearish bias as long as it says contained below the 1.3120-1.3150 zone. 
  • Bearish targets to the downside are located near 1.3053-1.3066 area and 1.2974 May 9 high. 
  • Earlier, the Gross Domestic Product Annualized (GDP) for the second quarter came in line with expectations at 4.1% while the Core Personal Consumption Expenditures for the second quarter came slightly below expectations at 2% versus 2.2% forecast. However, the data had no influence on USD/CAD. 

USD/CAD 15-minute chart 

Spot rate:                   1.3061
Relative change:        -0.09% 
High:                          1.3081
Low:                           1.3041

Trend:                         Bearish

Resistance 1:            1.3100-1.3120 figure and supply/demand level
Resistance 2:            1.3155 June 18 low
Resistance 3:            1.3200 figure  
Resistance 4:            1.3271 June 29 high 
Resistance 5:            1.3350 figure
Resistance 6:            1.3388, 2018 high
Resistance 7:            1.3543 June 9, 2017 swing high

Support 1:                 1.3053-1.3066 area June 5 swing high and July 9 low
Support 2:                 1.2974 May 9 high
Support 3:                 1.2900 figure

US Dollar fails once again near 94.90, returns to 94.70

The US Dollar Index (DXY), which gauges the buck vs. a basket of its main competitors, has once again faded the uptick to the 94.90 area. US Dollar b
अधिक पढ़ें Previous

USD/CAD trades flat below 1.31 despite broad-based USD weakness

The USD/CAD pair is trading in a 35-pip range and having a difficult time finding direction on Monday as the crude oil weakness doesn't allow the pair
अधिक पढ़ें Next