The pair USD/CAD is near significant support

After the publication of mixed data on employment in the US and Canada, the pair USD/CAD renewed a minimum of the week at 1.2820, thereby questioning the safety of the uptrend, which is traced from the beginning of February of the current year. In this case, the trend line remains in force, which in the future may indicate the possibility of recovery of the further growth of the pair.

Also, do not forget about the persistence of tense trade relations between the United States and Canada, which are still open and can become a new risk factor for strengthening of the Canadian. Therefore, in the existing political conditions, any reduction in the pair USD/CAD should be considered as an opportunity to buy a pair of USD/CAD.

The signal for entering the purchase transaction will be the formation of a reversal from the support levels: 1.2800-20 and 1.2180-70, which in the future will indicate the pair’s return to the uptrend with the resistance test: 1.2920-40 and 1.3000.

Fig. USD/CAD H4. The current price is 1.2840.

Hanzenko Anton