USD/CAD technical analysis: Greenback advancing to daily highs, testing 1.3158 resistance

 

 

USD/CAD is grinding up above the 1.3100 figure while trading below the main daily simple moving averages (DSMAs). 

 

 

 

 

USD/CAD is challenging the 1.3158 resistance and the 200 SMA. A break above the resistance level can lead to 1.3180, 1.3205 and 1.3232 resistances on the way up, according to the Technical Confluences Indicator.

 

 

 

USD/CAD is trading above the main SMAs suggesting bullish momentum in the near term. Immediate support can be seen at 1.3130 and 1.3110, according to the Technical Confluences Indicator.