USD/CAD Is In an Uptrend, Battles the Resistance at Level 1.2600

15 July 2021 | Updated: 15 July 2021

Key Resistance Levels: 1.4200, 1.4400, 1.4600
Key Support Levels: 1.1900, 1.1800, 1.1700

USD/CAD Price Long-term Trend: Bearish
USD/CAD is in an upward move. Since March, the currency pair has been battling to break the resistance at level 1.2600. The uptrend will resume if the resistance level is breached. The sideways trend will continue if the resistance remains unbroken. Meanwhile, on July 8 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the market will rise to level 2.0 Fibonacci extension or level 1.2865.

USD/CAD – Daily Chart

Daily Chart Indicators Reading:
USD/CAD has risen to level 62 of the Relative Strength Index period 14. It indicates that the pair is in the uptrend zone and above the centerline 50. It is also approaching the overbought region of the market. . The 21-day and 50-day SMAs are sloping upward.

USD/CAD Medium-term Trend: Bearish
On the 4-hour chart, the USD/CAD is in an uptrend. The currency price reached the resistance level and was repelled. The currency pair fell to level 1.2440 and resumed upward. Meanwhile, on July 13 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the market will rise to level 1.618 Fibonacci extension or level 1.2595.

USD/CAD – 4 Hour Chart

4-hour Chart Indicators Reading
USD/CAD is above the 60% range of the daily stochastic. It indicates that the pair is in a bullish momentum and it is approaching the overbought region. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

General Outlook for USD/CAD
USD/CAD pair upward move has been stalled below level 1.2600. The uptrend will resume if the resistance is breached. According to the Fibonacci tool, the currency pair will rise to level 2.0 Fibonacci extension or level 1.2865.

You can purchase crypto coins here: Buy Tokens

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results


  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.