News

USD/CAD Technical Analysis: Greenback spikes up and approaches three-day highs against CAD

  • USD/CAD is spiking to new weekly highs above the 1.3200 handle.
  • The level to beat for bulls is the 1.3260 resistance. 
 
 

USD/CAD daily chart

 
 
The loonie on the daily chart is trading above the 1.3200 handle between the 50 and 200-day simple moving average (DMA).
 
 

USD/CAD four-hour chart

 
 
USD/CAD is challenging the 1.3260 resistance while above the main SMAs. A daily break above the level can lead to further strength towards the 1.3296 and 1.3330 levels, according to the Technical Confluences Indicator. 
 

 

USD/CAD 30-minute chart

 
 
USD/CAD is trading above its main SMAs, suggesting a bullish momentum in the near term. Support is seen at the 1.3241, 1.3213 and 1.3180/65 price zone, according to the Technical Confluences Indicator. 
 

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.