USD/CAD Price Analysis: 21-day SMA guards immediate upside below 1.3600

USD/CAD remains in the range between 1.3565 and 1.3590 since Thursday.
A three-week-old falling trend line adds to the upside barriers.
38.2% Fibonacci retracement offers immediate support ahead of 200-day SMA.

Anil Panchal FXStreet

USD/CAD stays sluggish around 1.3580 during the early Asian session on Monday. Despite its latest efforts to cross 21-day SMA, the loonie pair has been trading in a 25-pips area off-late.

As a result, the sellers may target 38.2% Fibonacci retracement of June month’s upside, near 1.3560 as immediate support. However, a confluence of 50% Fibonacci retracement and 200-day SMA, around 1.3515/10, could restrict the pair’s further weakness.

In a case where the bears sneak in to drag the quote below 1.3500 mark, 61.8% Fibonacci retracement level of 1.3468 will be on their radars.

Alternatively, a clear break above 21-day SMA level of 1.3587 won’t open the doors for the bulls as a downward sloping trend line from June 26, close to 1.3620, becomes the tough nut to crack.

USD/CAD daily chart

Trend: Sideways

Additional important levels

Overview
Today last price	1.3579
Today Daily Change	-1 pip
Today Daily Change %	-0.01%
Today daily open	1.358

Trends
Daily SMA20	1.3584
Daily SMA50	1.3674
Daily SMA100	1.3839
Daily SMA200	1.351

Levels
Previous Daily High	1.3589
Previous Daily Low	1.3565
Previous Weekly High	1.3646
Previous Weekly Low	1.3502
Previous Monthly High	1.3802
Previous Monthly Low	1.3316
Daily Fibonacci 38.2%	1.358
Daily Fibonacci 61.8%	1.3574
Daily Pivot Point S1	1.3567
Daily Pivot Point S2	1.3554
Daily Pivot Point S3	1.3543
Daily Pivot Point R1	1.3591
Daily Pivot Point R2	1.3602
Daily Pivot Point R3	1.3615

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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