Technical analytics

USD/CAD

USDCAD

The US dollar remained weak versus its Canadian peer. Sellers continued pushing the major lower and after breaking through the EMA50 and the EMA200 reached the 1.2800 handle. The selling pressure weakened after that and the pair spent the first part of Wednesday struggling hard to extend its gains. However, all sellers' attempts were useless and they retreated at noon. The resistance is at 1.2900, the support stands 1.2800

After a daily close below 1.2800, we could see the pair extending down to the 1.2700 region during the next days. 

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