FX.co ★ USD/CAD analysis for May 29, 2018

Recently, the USD/CAD pair has been trading upwards. The price tested the level of 1.3023. According to the H1 time – frame, I found a rejection of the support trendline, which is a sign that selling looks risky and that buyers are in control. I also found a broken bullish flag pattern in the background, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.3120.

Resistance levels:

R1: 1.3019

R2: 1.3045

R3: 1.3068

Support levels:

S1: 1.2970

S2: 1.2950

S3: 1.2920

Trading recommendations for today: watch for potential buying opportunities.