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

Today last price 1.3431
Today Daily Change 8 pips
Today Daily Change % 0.06%
Today daily open 1.3423
Daily SMA20 1.35
Daily SMA50 1.3567
Daily SMA100 1.3826
Daily SMA200 1.3523
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



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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD recovers towards 1.1750 as risk-on rules

EUR/USD is back around 1.1750 as upbeat US data fueled equities' early rally. Concerns about economic progress remain in the background, as the pandemic keeps taking its toll. 


GBP/USD bounces from 1.30 as demand for the dollar eases

Dollar's corrective advance seems complete, now down against most major rivals. GBP/USD trades little changed for a second consecutive day in the 1.3060/70 price zone. Market players continue to ignore upcoming Brexit chaos.


Gold: Interesting Fibonacci extension projects a move to $2500

Gold has risen 10.74% in the month of July, the biggest monthly increase since February 2016. As the price is breaking all-time highs it's hard to say where the yellow metal could end up.

Gold News

ETH/BTC skyrocketing, Bitcoin stays above $11,000

The cryptocurrency market is influenced by leveraged positions liquidation. Cryptocurrency experts expect further growth amid a global flight to safety assets. ETH/BTC hits the highest level since May 2019.

Read more

WTI drops below $40 on demand worries, OPEC+ output increase

Crude oil prices posted losses last week and seem to be struggling to shake off the bearish pressure on Monday. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $39.85, losing 1.5% on a daily basis.

Oil News