FX.co ★ Technical analysis and trading recommendations for the USDCAD currency pair as of February 21, 2018

The USD/CAD pair managed to restore positions in less than a week, acting out early decline by 100%, which resulted in a return to the resistance level of 1.2660. Now, we see stagnation within a level with indecision forming two-valued candles. It is possible to assume that the "bullish" interest will continue, but we can see the temporary choppiness within the level, with a possible pullback. Positions for purchases should be considered only after a clear fixation of the price higher than 1.2660 / 1.2690, otherwise we can run into a false entry.

Key Levels

Resistance - 1.2660; 1,2770 *; 1.2900

Support - 1.2580 *; 1.2400; 1.2250

* Periodic level