USD/CAD Price Analysis: Bounces off 200-HMA to stay above 1.3400


  • USD/CAD picks up the bids towards the weekly high near 1.3460.
  • Key Fibonacci retracement levels to challenge the bulls.
  • Bears may attack 1.3315 support during the fall below 200-HMA.

USD/CAD rises to 1.3430, up 0.07% on a day, before the European session begins on Friday. The loonie pair recently took a U-turn from 200-HMA while reversing the previous day’s pullback from 1.3460.

Although MACD conditions challenge the latest recovery in USD/CAD prices, sustained trading beyond the key HMA enables the quote to challenge the previous day’s top, also the weekly high, around 1.3460.

During the pair’s further rise past-1.3460, 50% and 61.8% Fibonacci retracements of July 20-28 fall, respectively near 1.3470 and 1.3500, will challenge the bulls before diverting them to the monthly high around 1.3640.

Meanwhile, a downside break of a 200-HMA level of 1.3406 will need to slip below 1.3400 to attack the weekly bottom around 1.3330.

Also challenging the bears will be the lows marked in March and June months surrounding 1.3315, as well as 1.3500 round-figures.

USD/CAD hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 1.3431
Today Daily Change 8 pips
Today Daily Change % 0.06%
Today daily open 1.3423
 
Trends
Daily SMA20 1.35
Daily SMA50 1.3567
Daily SMA100 1.3826
Daily SMA200 1.3523
 
Levels
Previous Daily High 1.346
Previous Daily Low 1.3334
Previous Weekly High 1.36
Previous Weekly Low 1.3352
Previous Monthly High 1.3802
Previous Monthly Low 1.3316
Daily Fibonacci 38.2% 1.3412
Daily Fibonacci 61.8% 1.3382
Daily Pivot Point S1 1.3351
Daily Pivot Point S2 1.3279
Daily Pivot Point S3 1.3225
Daily Pivot Point R1 1.3477
Daily Pivot Point R2 1.3531
Daily Pivot Point R3 1.3603

 

 

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