USD/CAD falls to the lowest level in three weeks under 1.3500

The Loonie outperforms during the American session.
WTI rebounds and approaches daily highs.
Wall Street trims losses, US yields print fresh highs.

Matías Salord FXStreet

The USD/CAD is hovering around 1.3510 after hitting at 1.3484, the lowest level in three weeks, amid an improvement in market sentiment. The Loonie is outperforming.

Technicals, oil and equities supporting CAD

The USD/CAD broke a relevant support area located at 1.3520 and accelerated the downside. If the pair manages to remain below, more losses under 1.3500 seems likely.

The Loonie is outperforming on Tuesday, supported not only by technical developments but also by higher crude oil prices. The WTI barrel is up by 1.41%, approaching the $81.00 area again.

In Wall Street, the stock market is off lows with the S&P 500 up by 0.31% as of writing, and the Nasdaq down by 0.80%, off lows. Volume remains low favoring uncoordinated moves.

Technical levels

USD/CAD

Overview
Today last price	1.3492
Today Daily Change	-0.0112
Today Daily Change %	-0.82
Today daily open	1.3604

Trends
Daily SMA20	1.3593
Daily SMA50	1.3541
Daily SMA100	1.3414
Daily SMA200	1.3101

Levels
Previous Daily High	1.3604
Previous Daily Low	1.3604
Previous Weekly High	1.3704
Previous Weekly Low	1.3563
Previous Monthly High	1.3808
Previous Monthly Low	1.3226
Daily Fibonacci 38.2%	1.3604
Daily Fibonacci 61.8%	1.3604
Daily Pivot Point S1	1.3604
Daily Pivot Point S2	1.3604
Daily Pivot Point S3	1.3604
Daily Pivot Point R1	1.3604
Daily Pivot Point R2	1.3604
Daily Pivot Point R3	1.3604

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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