FXstreet.com
(Córdoba) - USD/CAD remains locked in tight range and trades nearly
flat on Wednesday amid low volume in FX markets as US celebrates the
Independence Day. USD/CAD hit a fresh 7-week low of 1.0118 during the
Asian session, but lost momentum and has been trading in a 20-pip range
ever since.
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PART 1 | PART 2 | PART 3
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Despite Canadian dollar recent strength, USD/CAD has failed to break decisively below the 1.0120/15 support zone, where the 50% retracement of the 0.9798/1.0444 rally and the 200-day SMA converge. At time of writing, USD/CAD is trading at the 1.0125 area.
In terms of technical levels, below 1.0120 next supports are seen at 1.0100, and the 1.0045/50 area (61.8% retracement and 100-day SMA). On the upside, resistances could be found at 1.0150, 1.0170 and 1.0200.
USD/CAD Jul 04 at 17:05 GMT
1.0126/29 (0.06%)
H1.0144 L 1.0116
| S3 | S2 | S1 | R1 | R2 | R3 |
|---|---|---|---|---|---|
| 1.0043 | 1.0068 | 1.0093 | 1.0148 | 1.0173 | 1.0199 |
| Trend Index [?] | OB/OS Index [?] |
|---|---|
| Data updated on Jul 04 a 16:15 GMT (15-minute timeframe) | |
| Slightly Bullish | Overbought |
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