USD/CAD Price Analysis: Battles 200-HMA amid descending triangle breakout, ahead of NFP

USD/CAD looks to extend recovery gains above 1.3600.
Technical set up favors the bulls, a break above 200-HMA eyed.
Upbeat US NFP report could bolster the bullish momentum.

Dhwani Mehta FXStreet

USD/CAD is trying hard to extend its recovery momentum beyond 1.3600, as the horizontal 200-hourly Simple Moving Average (HMA) at 1.3607 appears to be a tough nut to crack for the bulls.

As observed on the hourly chart, the spot has confirmed a descending triangle bullish breakout in early Asia, following an hourly close above the 1.3595.

With bulls in form, the CAD pair also took out the next 50-HMA resistance at 1.3604. The further upside will now gain momentum only on a break above the aforesaid key hurdle of 200-HMA.

A failure to break through the latter could see the price retracing towards the falling trendline resistance-turned-support at 1.3590, where the upward sloping 21-HMA also lies.

The bullish bias will remain in place for the major so long as it holds above the 21-HMA. The hourly Relative Strength Index (RSI) trades flat but above the midline, suggesting that the upside bias still remains intact heading into the critical US Non-Farm Payrolls (NFP) data release.

USD/CAD hourly chart

USD/CAD additional levels

USD/CAD

Overview
Today last price	1.3604
Today Daily Change	0.0019
Today Daily Change %	0.14
Today daily open	1.3587

Trends
Daily SMA20	1.3556
Daily SMA50	1.3783
Daily SMA100	1.3805
Daily SMA200	1.3493

Levels
Previous Daily High	1.3602
Previous Daily Low	1.3546
Previous Weekly High	1.3716
Previous Weekly Low	1.3486
Previous Monthly High	1.3802
Previous Monthly Low	1.3316
Daily Fibonacci 38.2%	1.358
Daily Fibonacci 61.8%	1.3567
Daily Pivot Point S1	1.3555
Daily Pivot Point S2	1.3523
Daily Pivot Point S3	1.35
Daily Pivot Point R1	1.3611
Daily Pivot Point R2	1.3634
Daily Pivot Point R3	1.3666

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.