FXetreet.com (Barcelona) - After rising 1.20% from the opening price at 1.2157 to reach the 1.2308, highest since April 9, the USD/CAD is testing the 1.2300 key level. Since the early European morning, the pair has risen 150 pips. Currently, USD/CAD is trading around 1.2290/1.2300.
According to Valeria Bednarik, FXstreet.com collaborator, USD/CAD just hit the 1.2300 zone, where the pair found the daily 20 SMA that halted the bullish run, still no signs of reversal in the pair. Hourly charts are over bough, yet 4 hours show the pair has more room to go. 1.2347 will be our first resistance for today, followed by 1.2378, 200 EMA in 4 hours charts, probable maximum for today. 1.2273 will be the first support to consider, followed by a more interesting congestion zone around 1.2240. Under this last, 1.2200 could be reached.
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