MarketDeal24.Com – The price of USD/CAD started slightly above 1.30 level on Friday in a four hour time frame. Crude prices have fallen from a nine-month high and the US dollar index has risen slightly from a one-month low.
Resistance 1.3020 has become much harder to break when a bullish condition is created from 1.30. However, if this level is broken, the buyers will move the price of the pair to the September opening level of 1.3043. And if the buyers fail, the price will fall to Quasimodo support 1.2927 by breaking 1.30.
However, before the price of the aforementioned Quasimodo support goes up, traders may face a barrier to the weekly support and the 2020 opening level of 1.2975, along with the daily support of 1.2973.
The 1.30 level worked as support in a four hour time frame. Buyers will also notice that this level has Quasimodo support 1.2997.