USD/CAD technical analysis: Greenback sinks to 3-month lows against CAD
|- USD/CAD is trading at levels not seen since March.
- The next supports to the downside are seen near 1.3110 and 1.3068.
USD/CAD daily chart
USD/CAD broke below 1.3200 figure and its main daily simple moving average (DSMA). The overall picture is turning negative for the commodity-linked currency pair.
USD/CAD 4-hour chart
USD/CAD is under bearish pressure below 1.3180 and its main SMAs. The market reached levels not seen since March of this year.
USD/CAD 30-minute chart
The 50 SMA crossed below the 200 SMA which is seen as a bearish sign. The path of least resistance is to the downside. The next support cab be seen at 1.3110 (near weekly Pivot Point S3) and 1.3068 ( February low).
Additional key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.