USD/CAD Lower

The USD/CAD is trading slightly unchanged in today's trading session after it made a new low of 1.3516 yesterday. Next target for bears is the 200SMA level of 1.3270, while first target for bulls is to get above the downward channel and break 1.37.

In the long-term, the USD/CAD is trading in a bullish channel with currently bearish momentum driving prices further South. Major support is 1.3150, major resistance is 1.4560.

Shorts should hold until price breaks the tight short-term downward channel seen on daily or until price reaches the 200SMA and bounces off.

Chart: USD/CAD D1