USD/CAD hits the highest level in almost two weeks above 1.3100

Canadian dollar among the worst performers of the American session.
USD/CAD up for the third day in a row, back above the 20-day moving average.

Matías Salord FXStreet

The USD/CAD accelerated to the upside on Thursday and recently reached levels on top of 1.3100 for the first time since December 27. As of writing, it trades at 1.3095, up 50 pips for the day and almost 150 pips from Tuesday’s low.

The sharp reversal in USD/CAD took place amid a decline in crude oil prices that still goes on today, with WTI testing the $59.00 level. Also, the latest round of Canadian economic data has not been supportive. On Friday, jobs reports from Canada and the US will be released. Those numbers should have a large impact on the pair.

Another drive in the USD/CAD rally is the stronger US dollar. The greenback is today rising across the board. The DXY is up 0.20%, trading at 97.50, the highest since December 27.

Levels to watch

The USD/CAD is trading near the 20-day moving average that stands at 1.3080 and also to the 1.3100 resistance area. A daily close above would point to further gains for the pair. The next resistance is seen at 1.3130. On the flip side, support levels might be seen at 1.3040, followed by 1.3005/10.

USD/CAD

Overview
Today last price	1.3095
Today Daily Change	0.0061
Today Daily Change %	0.47
Today daily open	1.3034

Trends
Daily SMA20	1.3088
Daily SMA50	1.3176
Daily SMA100	1.3202
Daily SMA200	1.325

Levels
Previous Daily High	1.3045
Previous Daily Low	1.2976
Previous Weekly High	1.3085
Previous Weekly Low	1.2943
Previous Monthly High	1.3322
Previous Monthly Low	1.2951
Daily Fibonacci 38.2%	1.3018
Daily Fibonacci 61.8%	1.3002
Daily Pivot Point S1	1.2992
Daily Pivot Point S2	1.2949
Daily Pivot Point S3	1.2923
Daily Pivot Point R1	1.306
Daily Pivot Point R2	1.3087
Daily Pivot Point R3	1.3129

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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