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USD/CAD falls back below 1.3200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - USD/CAD resumed the decline on Thursday with the loonie helped by the rise in oil prices as WTI climbs to near $47.00 a barrel, its highest in 10 days.

    USD/CAD was rejected from the 1.3240 zone during the European session and fell more than 100 pips all the way back toward a low of 1.3132. However, the CAD failed to drag the pair lower and it was last trading at 1.3170, still down 0.15% on the day.

    USD/CAD levels to watch

    As for technical levels, next support could be found at 1.3107 (10-day SMA), 1.3089 (Oct 28 low) followed by 1.3060 (20-day SMA) and then 1.2980 (100-day SMA). On the flip side, resistances are seen at 1.3237 (Oct 29 high), 1.3278 (Oct 28 high), 1.3330 (Oct 1 high) and 1.3400 (psychological level).
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