- USD/CAD bounced up from key Fibonacci support on Thursday.
- A break above Thursday's high is needed to bring recent highs on the radar.
The pair also broke out of a descending channel on Thursday, according to the hourly chart.
So far, however, the defense of the key Fibonacci support and the channel breakout have failed to entice buyers. The pair faced rejection at Thursday's high of 1.3270 a few minutes before press time.
Alongside that, the 50-hour moving average (MA) has crossed below the 200-hour MA, confirming a bearish crossover.
As a result, the pair risks revisiting the Fibonacci support of 1.3240. A close lower could bring additional declines toward 1.3185, which is the 38.2% Fibonacci retracement level.
On the flip side, acceptance above Wednesday's high of 1.3270 would open the doors to 1.33-1.3329.
|Today last price||1.3262|
|Today Daily Change||-0.0001|
|Today Daily Change %||-0.01|
|Today daily open||1.3263|
|Previous Daily High||1.3272|
|Previous Daily Low||1.324|
|Previous Weekly High||1.3321|
|Previous Weekly Low||1.323|
|Previous Monthly High||1.3255|
|Previous Monthly Low||1.29|
|Daily Fibonacci 38.2%||1.326|
|Daily Fibonacci 61.8%||1.3253|
|Daily Pivot Point S1||1.3244|
|Daily Pivot Point S2||1.3226|
|Daily Pivot Point S3||1.3212|
|Daily Pivot Point R1||1.3277|
|Daily Pivot Point R2||1.3291|
|Daily Pivot Point R3||1.3309|
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