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USD/CAD—Trading Quietly Below the 1.20 Pivot

ForexMarketz May 8, 2015 Technical Analysis Leave a comment 726 Views

USD/CAD (1.120)

  • Resistance Levels: 1.2075, 1.2205, 1.2308
  • Support Levels: 1.1995, 1.1865, 1.1760

The USD/CAD continues to drift lower. The UD Dollar is trading below the 1.20 pivot and swing high. Please see the below daily MT 4 chart.

Daily Chart
Daily Chart

A daily close below the near term support at 1.1995 challenges the technical support level at 1.1865. A close back above the technical resistance at 1.2070 will see the USD/CAD challenging the technical resistance near 1.2205. This is also the price action high seen on the first of May.

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