FX.co ★ Technical analysis and trading recommendations for the USD/CAD currency pair as of August 25, 2017

As previously predicted, at the beginning of the week, the currency retreated a little, allowing the "bears" to regroup and return to the market. Now we are already at the first periodic value of 1.2500, but at the same time reducing the "bearish" interest. It is possible to assume that after a brief stagnation within 20-25 points, the quotation will be able to squeeze the value of 1.2500, directing us to a high level of 1.2420, where we should expect a corrective movement.

Key levels

Resistance - 1.2700; 1.2840; 1.3000 (+/- 30p).

Support - 1.2420; 1.2200; 1.2000.

Signals

- Buying a pair is recommended to be made if the bulls still manage to return to the market for a while, fixing above 1.2540, but in this case, the take will probably not be so large since the stop is already in the values of 1.2570 / 1.26.

- Selling a pair is recommended to be made at a price below 1.2500, with the prospect of a move to 1.2420 / 1.2400.

Attention: Forecasts are not a direct guide to action!