USD/CAD Asia Price Forecast: Greenback on the back foot vs. CAD, trades below 1.4100 figure

USD/CAD starts the week by retreating slightly below the 1.4100 figure.
The level to beat for sellers is the 1.3985 support.

Flavio Tosti Independent Analyst

USD/CAD daily chart

USD/CAD is evolving above its main SMAs on the daily chart suggesting an underlying bullish bias while the spot is currently consolidating the advance made in March.

USD/CAD four-hour chart

USD/CAD is trading under its main SMAs on the four-hour chart while being capped below the 1.4100 level. Bears are maintaining a degree of control and the 1.3985 support level could be challenged in the next sessions with the potential of a breakdown towards the 1.3850 and 1.3800 levels. Resistance can emerge near the 1.4070, 1.1415 and 1.4170 levels.

Resistance: 1.4070, 1.4115, 1.4170

Support: 1.3985, 1.3850, 1.3800

Additional key levels

USD/CAD

Overview
Today last price	1.4037
Today Daily Change	-0.0066
Today Daily Change %	-0.47
Today daily open	1.4103

Trends
Daily SMA20	1.4075
Daily SMA50	1.386
Daily SMA100	1.3502
Daily SMA200	1.3366

Levels
Previous Daily High	1.4121
Previous Daily Low	1.4024
Previous Weekly High	1.4265
Previous Weekly Low	1.4
Previous Monthly High	1.4668
Previous Monthly Low	1.3315
Daily Fibonacci 38.2%	1.4084
Daily Fibonacci 61.8%	1.4061
Daily Pivot Point S1	1.4044
Daily Pivot Point S2	1.3986
Daily Pivot Point S3	1.3948
Daily Pivot Point R1	1.4141
Daily Pivot Point R2	1.4179
Daily Pivot Point R3	1.4238

Author

Flavio Tosti

Independent Analyst

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