FXstreet.com (Barcelona) - The USD/CAD is trading on a slightly bearish mood since rejection of 1.2675 level on Feb 17, at the moment the USD is testing support level at 1.2400.

Below 1.2400, the pair would open the doors towards 1.2350 (Feb 23 low) and below here 1.2280 (Feb 13 low). On the way up the USD could bounce up from 1.2400 towards 1.2455,and once above here the pair would be on the way to attack the 1.2490/1.2500 resistance area.

On the long term the USDCAD is forming a triangle pattern from 1.30 top on Dec 5 on the upper side and, on the lower side, ascending lows since 1.1462 on Nov 5. On the way up the Dollar could find resistance levels at 1.2667, 1.2750 and 1.3000. Support levels are located at 1.2100, 1.2000/20 and 1.1840.