USD/CAD Price Analysis: 1.3105/10 keeps the upside limited

  • USD/CAD stays above 23.6% Fibonacci retracement for over a week.
  • 200-bar SMA, monthly top and December 18 low restrict immediate advances.

USD/CAD takes rounds to 1.3050 while heading into the European session on Friday. In doing so, the pair remains above 23.6% Fibonacci retracement of its gradual decline from December 03 to January 01. However, prices fail to overcome an area including 200-bar SMA, monthly high and December 18 bottom.

In addition to the sustained trading above 23.6% Fibonacci retracement, normal conditions of 14-bar RSI also favor the pair’s another confrontation to 1.3105/10 resistance confluence area.

Should the quote manages to rise beyond 1.3110, 61.8% Fibonacci retracement near 1.3180 keeps the buyers caged before pushing them to 1.3280 horizontal area.

Alternatively, the bears will look for entry below 1.3030, comprising 23.6% Fibonacci retracement.

As a result, 1.3000 and the current month low near 1.2940 could gain sellers’ attention.

USD/CAD four-hour chart

Trend: Sideways

Additinal important levels

Today last price 1.3049
Today Daily Change 9 pips
Today Daily Change % 0.07%
Today daily open 1.304
Daily SMA20 1.3059
Daily SMA50 1.3163
Daily SMA100 1.3188
Daily SMA200 1.3242
Previous Daily High 1.3057
Previous Daily Low 1.3032
Previous Weekly High 1.3106
Previous Weekly Low 1.2956
Previous Monthly High 1.3322
Previous Monthly Low 1.2951
Daily Fibonacci 38.2% 1.3041
Daily Fibonacci 61.8% 1.3047
Daily Pivot Point S1 1.3029
Daily Pivot Point S2 1.3018
Daily Pivot Point S3 1.3004
Daily Pivot Point R1 1.3054
Daily Pivot Point R2 1.3068
Daily Pivot Point R3 1.3079



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