USD/CAD technical analysis: Greenback sinks to 3-month lows against CAD
- USD/CAD is trading at levels not seen since March.
- The next supports to the downside are seen near 1.3110 and 1.3068.
USD/CAD daily chart
USD/CAD broke below 1.3200 figure and its main daily simple moving average (DSMA). The overall picture is turning negative for the commodity-linked currency pair.
USD/CAD is under bearish pressure below 1.3180 and its main SMAs. The market reached levels not seen since March of this year.
The 50 SMA crossed below the 200 SMA which is seen as a bearish sign. The path of least resistance is to the downside. The next support cab be seen at 1.3110 (near weekly Pivot Point S3) and 1.3068 ( February low).
Additional key levels
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