USD/CAD Technical Analysis: Greenback weaker against CAD, settles near 1.3230 level

 

 

 

The Loonie on the daily chart is trading below the 1.3250 level and the 200-day simple moving averages (DMA). This Friday, USD/CAD declined on USD weakness.

 

 

 

USD/CAD is trading above its main SMAs, suggesting bullish momentum in the medium term. However, buyers must break above the 1.3280 resistance to reach the 1.3320 level on the way up, according to the Technical Confluences Indicator. 

 

 

 

USD/CAD is trading below its main SMAs, suggesting a bearish momentum in the near term. Support is seen at 1.3230 level followed by the 1.3213 level, according to the Technical Confluences Indicator.