14:00 USD/CAD continues to test support for MA 200 H1
Yesterday the USD/CAD was trading lower and closed the day in the red zone near the price of C$1.3155. Today it was trading in a narrow range of С$1.3135-65, staying close to yesterday's closing price. On the hourly chart, USD/CAD continues to test the strength of the support - the moving average MA (200) H1 (С$1.3170). On the four-hour chart, it remains below the MA 200 H4 line. Based on the foregoing, it is probably worth adhering to the northern direction in trading and until the USD/CAD finally consolidates below MA 200 H1, it may be necessary to look for buy entry points to form a correction.
Resistances levels are at: С$1.3245-55, С$1.3295, С$1.3345
Support levels are at: С$1.3120-25, С$1.3090, С$1.3045
Probably, the main scenario - is continued growth to C$1.3245 (Sep 17 high). An alternative scenario - may be consolidation below MA (200) H1 with a subsequent decline to C$1.3085 (Sep 8 low).
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