Yesterday the USD / CAD pair was trading lower and closed the day in the red zone near the price of C $ 1.3295. Today the pair rallied slightly, rising to the C $ 1.3345 mark. On the hourly chart, USD / CAD is still trading below the moving average MA line (200) H1 (C $ 1.4345). The situation is similar on the four-hour chart. Based on the foregoing, it is probably worth sticking to the south direction in trading, and while the pair remains below MA 200 H1, it is necessary to look for a sell entry point to form a correction.
Resistances are at levels: С $ 1.3390, С $ 1.3420, С $ 1.3450-55
Support levels are located at: С $ 1.3270, С $ 1.3235-45, С $ 1.3190-00
The main scenario for the pair's advance is a continuation of the decline to C $ 1.3270 (August 11 minimum). An alternative scenario is the final consolidation above MA (200) H1 with a subsequent rise to C $ 1.3420 (maximum on August 4).
