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USD/CAD lower in positive terrain

FXStreet (Guatemala) - USD/CAD is trading at 1.1278, down -0.84% on the day, having posted a daily high at 1.1395 and low at 1.1264.

USD/CAD has dropped in dramatic style and is closing on the lows haven fallen over a cent in n the last day is this weeks business. However, analysts at TD Securities explained that they still think the broader outlook for USD/CAD is technically positive. “We look for solid support on USD weakness to the low 1.12s—trend channel base, reinforced by the 40-day MA in the event of a push below 1.13 in the next few days. Longer-term technical factors suggest 1.18 i reachable in the next few months”.

USD/CAD noteworthy levels

With spot trading at 1.1279, we can see next resistance ahead at 1.1298 (Daily 20 SMA), 1.1323 (Daily Classic S1) and 1.1346 (Hourly 100 SMA). Support below can be found at 1.1270 (Daily Classic S2), 1.1243 (Daily Classic S3), 1.1241 (Weekly Classic S1) and 1.1166.

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