USD/CAD in search of a firm direction, stuck in a range near 1.3400 mark

   •  The US bond yields rebound from 15-month lows and lend some support to the USD.
   •  A strong pickup in crude oil prices underpin Loonie and kept a lid on any strong up-move.

The USD/CAD pair lacked any firm intraday directional bias and is currently placed in the neutral territory, around the 1.3400 handle.

The pair stalled its overnight retracement slide from two-week tops and managed to find some support near the 1.3385, albeit a combination of diverging forces failed to provide any meaningful impetus and led to a subdued/range-bound price action through the early European session on Tuesday.

A goodish rebound in the US Treasury bond yields from 15-month lows provided a minor lift to the US Dollar and extended some support to the major. The positive factor was largely offset by a strong pickup in crude oil prices, now up over 1.0%, which underpinned demand for the commodity-linked currency - Loonie and kept a lid on any meaningful up-move.

Hence, it would be prudent to wait for a convincing move in either direction before traders start positioning for any meaningful intraday momentum. Later during the early North-American session, the US economic docket, featuring the housing market data and followed by the Conference Board's Consumer Confidence Index will now be looked upon for some fresh impetus.

Technical levels to watch


Today last price 1.34
Today Daily Change -0.0002
Today Daily Change % -0.01
Today daily open 1.3402
Daily SMA20 1.3331
Daily SMA50 1.3274
Daily SMA100 1.3317
Daily SMA200 1.3197
Previous Daily High 1.3446
Previous Daily Low 1.3398
Previous Weekly High 1.3434
Previous Weekly Low 1.3251
Previous Monthly High 1.3341
Previous Monthly Low 1.3069
Daily Fibonacci 38.2% 1.3416
Daily Fibonacci 61.8% 1.3428
Daily Pivot Point S1 1.3386
Daily Pivot Point S2 1.3369
Daily Pivot Point S3 1.3339
Daily Pivot Point R1 1.3432
Daily Pivot Point R2 1.3462
Daily Pivot Point R3 1.348


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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD looks to extend the recovery above 1.1250

The recovery in the EUR/USD pair from near 1.1235 lows appears to have gained traction in the European trading, as the bulls now look to regain control above the 1.1250 barrier amid renewed US dollar weakness across the board and ahead of the US existing homes sales data.


GBP/USD side-lined near 1.3000, awaits US data

The GBP/USD pair continues to consolidate in a 10-pips slim range below 1.3000 so far this session, as the bulls lack momentum amid no fresh catalysts and marginal volatility. Next of relevance is US data while the key UK cross-party Brexit talks remain in focus this week. 


USD/JPY: lifeless just below 112.00

Japanese Nikkei moved marginally higher, also US Treasury yields in thin market conditions. US to release minor macroeconomic data as markets slowly return to normal.


Bitcoin price prediction: BTC/USD bulls set eyes on $5,300

Bitcoin (BTC) topped at $5,360 and has been moving lower ever since. Generally, the price is oscillating in a tight range limited by $5,200 on the downside and $5,300 on the upside.

Read more

Gold: Intraday positive move falters near 100-hour SMA

The precious metal was seen trying to build on Friday's attempted bounce from a support marked by 50% Fibonacci retracement level of the $1196-$1347 recent up-move.

Gold News