23.11 - USD/CAD drops to 1.3081
- by George Solotarov
USD/CAD drops to 1.3081 during Monday’s Asian trading. USD/CAD bulls can look for fresh entries on the upside break of the immediate resistance line, stretched from November 13, at 1.3102 now, while watching over 1.3170/75 as the next hurdle to the north.
If at all the buyers manage to tackle the 1.3175 resistance, the 1.3300 round-figure and the monthly peak of 1.3370 will gain the market’s attention. On the downside, a clear break below a two-week-old support line, currently around 1.3050, become necessary for the bears before revisiting the 50% of Fibonacci retracement and latest lows around 1.3030.