- USD/CAD starts the week by retreating slightly below the 1.4100 figure.
- The level to beat for sellers is the 1.3985 support.
USD/CAD daily chart
USD/CAD is evolving above its main SMAs on the daily chart suggesting an underlying bullish bias while the spot is currently consolidating the advance made in March.
USD/CAD four-hour chart
USD/CAD is trading under its main SMAs on the four-hour chart while being capped below the 1.4100 level. Bears are maintaining a degree of control and the 1.3985 support level could be challenged in the next sessions with the potential of a breakdown towards the 1.3850 and 1.3800 levels. Resistance can emerge near the 1.4070, 1.1415 and 1.4170 levels.
Resistance: 1.4070, 1.4115, 1.4170
Support: 1.3985, 1.3850, 1.3800
Additional key levels