Yesterday the USD/CAD was trading lower and closed the day in the red zone near the price of C$1.3340. Today it was trading in a narrow range of $1.3340-60, staying close to yesterday's closing price. On the hourly chart, USD/CAD is still trading above the moving average MA line (200) H1 (C$1.3250). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the northern direction in trading, and while the USD/CAD remains above MA 200 H1, it may be necessary to look for buy entry points at the end of the correction.
Resistances levels are at: С$1.3415, С$1.3450-55, С$1.3480
Support levels are at: C$1.3285, C$1.3230, C$1.3175
Probably, the main scenario - is continued growth to C$1.3415 (Sep 24 high). An alternative scenario - may be consolidation below MA (200) H1, followed by a decline to C$1.3125 (Sep 16 low).
|remaining time till the new event being published|
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