The USD/CAD currency pair failed to lock above the periodic level of 1.2930 in the past week and as a result, this led to the formation of a temporary flat movement within the boundaries of 1.2820 / 1.2930. Now, we continue to observe the pair to wobble within the given limits, showing low volatility in the market. Probably, the current mood will be sustained, whereafter the subsequent workings of the boundaries lead to the congestion, assumed to be around the upper boundary. After which, it is already worthwhile to work out the entry point.
Key Levels
Resistance - 1,3000; 1,3110 *; 1,3200
Support - 1,2800 (1,2770 / 1,2800) *; 1.2660
* Periodic level
Signals
- It is recommended to buy the pair after a clear fixation of the price above 1.2950, with the prospect of a movement towards 1.3000 / 1.3040.
- It is recommended to sell the pair after a clear fixation of the price above 1.2950, with the prospect of a movement towards 1.3000 / 1.3040.