USD/CAD Daily Analysis – Monday, May 28

USD/CAD broke above 1.2924 resistance and is now facing 1.2997 resistance. A breakout of this level would take the price to 1.3100 area.

USD/CAD broke above 1.2924 resistance and is now facing 1.2997 resistance. A breakout of this level would take the price to 1.3100 area. Near term support is at the rising trend line on the 4-hour chart, only a clear break below the trend line support could bring the price back to test 1.2728 support.

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USDCAD 4-hour chart

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