USD/CAD Price Analysis: 100-bar SMA, monthly support line probe bears below 1.3300


  • USD/CAD bounces off a nine-day low towards regaining the 1.3000 threshold.
  • Nearly oversold RSI conditions join strong supports to limit further downside.
  • September month’s high becomes the key resistance, 1.3330 can restrict the latest bounce.

USD/CAD consolidates the recent losses while taking rounds to 1.3285 during the pre-Tokyo open trading on Friday. The quote dropped heavily during the last two days after taking a U-turn from the highest since August 03. Sellers seem to follow RSI conditions near the strong supports.

Among them, the 100-bar SMA level of 1.3268 offers the adjacent challenge to the further downside before an ascending trend line from September 01, at 1.3250 now. Also likely to question the pair’s short-term downside is the early September high near 1.3260.

In a case where the USD/CAD bears ignore expectedly oversold RSI and dominate past-1.3250, the 1.3200 round-figure and the mid-September low near 1.3130 will flash on their radars.

Alternatively, multiple resistances around 1.3330 and 1.3345/50 can question the USD/CAD buyers above 1.3300.

However, the pair’s ability to stay strong beyond 1.3350 will direct the rise towards the September-end top near 1.3420.

USD/CAD daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 1.3284
Today Daily Change -35 pips
Today Daily Change % -0.26%
Today daily open 1.3319
 
Trends
Daily SMA20 1.3239
Daily SMA50 1.3249
Daily SMA100 1.3443
Daily SMA200 1.3528
 
Levels
Previous Daily High 1.3421
Previous Daily Low 1.3302
Previous Weekly High 1.3418
Previous Weekly Low 1.3171
Previous Monthly High 1.3421
Previous Monthly Low 1.2994
Daily Fibonacci 38.2% 1.3347
Daily Fibonacci 61.8% 1.3375
Daily Pivot Point S1 1.3274
Daily Pivot Point S2 1.3229
Daily Pivot Point S3 1.3155
Daily Pivot Point R1 1.3392
Daily Pivot Point R2 1.3466
Daily Pivot Point R3 1.3511

 

 

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD edges above 1.18 amid mixed US data, slim stimulus hopes

EUR/USD is trading above 1.30 after US Durable Goods Orders beat expectations but Consumer Confidence missed estimates. Hopes for a US stimulus deal are slim with a week left until the elections.

EUR/USD News

GBP/USD stabilizes above 1.30 amid Brexit and covid uncertainty

GBP/USD is hovering above the round 1.30 levels as rising UK COVID-19 cases, uncertainty about Brexit, and PM Johnson's political problems weigh on sterling. US data has been mixed.

GBP/USD News

XAU/USD ticks up to $1,910 and turns positive on the day

Gold futures have found support right below the $1,900 area earlier today before inching up to $1,910, turning positive on daily charts. The precious metal lost ground, with the US dollar building up during the European session on Tuesday, to appreciate during the North American session with market sentiment improving moderately.

Gold News

Bitcoin breaks new yearly highs; the road to $15,000 is clear

Bitcoin breaks new yearly highs and hits $13,464. The road to $15,000 is clear as there are no major resistance levels above the current price.

Read more

WTI trims losses and moves near $39.00/bbl ahead of API

Following two consecutive daily pullbacks, prices of the West Texas Intermediate regain some buying interest and reach the $39.00 mark per barrel on turnaround Tuesday.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures