USD/CAD has been trading upwards. The price tested the level of $1.3272. Anyway, according to the H1 time – frame, I have found that price rejected from the important resistance level at 1.3265. I also found potential end of the upward correction and finished bearish flag pattern, which is a sign that buying USD/CAD at this stage looks risky. The key intraday support is set at 1.3230.
R1: 1.3290
R2: 1.3320
R3: 1.3370
Pivot: 1.3240
S1: 1.3213
S2: 1.3165
S3: 1.3135
Trading recommendation: We are bearish intraday from 1.3258 and protective stop at 1.3275. We are targeting levels at 1.3230 and 1.3200.
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