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USD/CAD Technical Analysis: Greenback bulls at monthly highs attacking 1.3100 figure

  • USD/CAD is in a bull trend above the 200-period simple moving average. 
  • USD/CAD bulls are challenging 1.3108 (September 7 low). A break above the level would open the door to 1.3150 figure. 
  • The momentum is bullish but bulls would need a close above 1.3108 on a daily closing basis to confirm any further advances. Failure to do so can lead to a pullback down towards 1.3000 figure.

USD/CAD 4-hour chart

Spot rate:                   1.3103
Relative change:        0% 
High:                          1.3118
Low:                           1.3079

Main trend:                Bullish 

Resistance 1:            1.3108, September 7 low
Resistance 2:            1.3150 figure
Resistance 3:            1.3200 figure

Support 1:                 1.3083 September 27 swing high
Support 2:                 1.3048 August 14 low
Support 3:                 1.3000 figure
Support 4:                 1.2950-59 multi-month key level and August 7 low
 

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