The USD/CAD chart is currently displaying an overall bearish momentum, as it approaches a key support level.
Resistance Levels:
The 1st resistance at 1.3260 is identified as an "overlap Resistance", implying its potential to impede upward price movements. Additionally, the 2nd resistance at 1.3320 is characterized as a "Pullback Resistance" indicating its role as a substantial obstacle to further advances.
Support Levels:
On the support side, the 1st support at 1.3152 serves as a "Multi-swing-low Support". This level suggests an area where buying interest may emerge, potentially providing some support to the price. Similarly, the 2nd support at 1.3121 is classified as a "Pullback Support" highlighting its significance as a substantial support zone.
