USD/CAD Price Analysis: Bulls attack 1.3600 to keep 200-bar SMA breakout

  • USD/CAD remains mildly bid following the recent U-turn from 1.3585.
  • A seven-day-old horizontal resistance restricts the pair’s immediate upside.
  • Sellers can aim for June 23 low under 200-bar SMA.

USD/CAD rises to 1.3595, up 0.05% on a day, as Tokyo opens for Trading on Monday. The loonie pair remains above 200-bar SMA but fails to cross short-term horizontal resistance. As a result, traders are waiting for a clear sign of breaking the key technical levels for near-term direction.

Considering the strong RSI conditions, the pair is more likely to extend the recent recovery moves towards the 1.3625/30 resistance region. Though, it’s further upside becomes difficult and will have to travel past-1.3655 and 1.3700 to challenge the June 26 top near 1.3715.

Given the pair’s ability to stay positive beyond 1.3715, the previous month’s peak close to 1.3800 could return to the charts.

On the downside, a clear break below 200-bar SMA level of 1.3573 will drag the quote to 50% Fibonacci retracement level of June 10-26 upside, at 1.3515.

During the quote’s further weakness under 1.3515, June 23 bottom surrounding 1.3485 and 61.8% Fibonacci retracement level of 1.3468 will be the key to watch.

USD/CAD four-hour chart

Trend: Further recovery expected

Additional important levels

Today last price 1.3596
Today Daily Change 6 pips
Today Daily Change % 0.04%
Today daily open 1.359
Daily SMA20 1.3584
Daily SMA50 1.372
Daily SMA100 1.3827
Daily SMA200 1.3503
Previous Daily High 1.3632
Previous Daily Low 1.3575
Previous Weekly High 1.3632
Previous Weekly Low 1.3491
Previous Monthly High 1.3802
Previous Monthly Low 1.3316
Daily Fibonacci 38.2% 1.361
Daily Fibonacci 61.8% 1.3597
Daily Pivot Point S1 1.3566
Daily Pivot Point S2 1.3542
Daily Pivot Point S3 1.351
Daily Pivot Point R1 1.3622
Daily Pivot Point R2 1.3655
Daily Pivot Point R3 1.3679



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

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD: At risk of extending its slide

The greenback closed the week appreciating against most major rivals, although EUR/USD settled in the 1.1780 price zone, holding on to modest weekly gains. EUR/USD decline corrective on the broader view but could extend its slump in the shorter-term.


GBP/USD: Limited bearish potential

The GBP/USD pair finished the week with modest losses at 1.3050, giving up to the dollar’s demand at the end of the week. The Cable is trading above the 1.3000 level, which limits the bearish potential.


Gold: Acceptance above $2050 critical to revive the uptrend

Gold’s record-breaking rally could resume on a sustained move above $2050. RSI on 4H chart stays in the bullish territory, pointing to the upside. XAU bulls to buy the dips around $2010 in the week ahead?

Gold News

Bitcoin may extend the recovery once Gold resumes the rally

Gold retreated from the recent highs, but the sentiments are still bullish. Cryptocurrencies resumed the upside, some altcoins are demonstrating strong gains. ETH/BTC stopped the downside correction and settled at $0.03300.

Read more

WTI extends slide toward $41, on track to post weekly gains

Crude oil prices continued to fall on Friday and the barrel of West Texas Intermediate (WTI) touched a daily low of $41.05 before recovering modestly.

Oil News