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USD/CAD key support at 1.24 – Varengold

FXStreet (Barcelona) - The Varengold Bank Research Team shares the technical outlook and key levels for USD/CAD using 4h charts.

Key Quotes

“The superior trend of this currency pair is strong bullish. An undecided range since February built a significant support line around 1.24, similar as the USDJPY.”

“Today’s U.S. news might be already decisive if the price is able to break out and continue the long-term trend or the support line is broken sustainably.”

“The arising triangle might be very interesting to traders who maintain position in USDCAD.”

“Support Levels around 1.2417”

“Resistance Levels around 1.2666, 1.2782”

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