USD/CAD ignores historical levels
|On Monday, the USD/CAD currency exchange rate was mostly ignoring previous high and low level zones. Moreover, starting from 06:00 GMT, the rate began to ignore the 50-hour simple moving average.
At mid-day on Monday, the rate was approaching the 1.2428/1.2434 zone and the weekly simple pivot point at 1.2427. A passing of these support levels could result in a decline to the 200-hour simple moving average near 1.2400.
On the other hand, a recovery of the rate might ignore the resistance levels near 1.2450 and 1.2470 and reach for the Friday's high level at 1.2480.
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