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USD/CAD Price Analysis: Buyers look for entry beyond 1.4185/90

  • USD/CAD funnels down to the exit between 21-day and 10-day SMAs.
  • A two-week-old falling trend line adds strength to the resistance.
  • The late-March low will be on the bears’ radars on the downside break.

While funneling down the weekly trading range between 21/10-day SMAs, USD/CAD prints mild gains while taking the bids to 1.4155 during early Friday.

In addition to 10-day SMA, a downward sloping trend line from March 19, also guard the pair’s immediate upside around 1.4185/90.

On the downside, 1.4085 comprising 21-day SMA seems to restrict the pair’s near-term declines.

While 1.4350 is likely on the bulls’ radars on the break above 1.4190, 1.4000 can offer an intermediate halt, below 1.4085, before dragging the quote to March 27 low surrounding 1.3920.

USD/CAD daily chart

Trend: Sideways

additional important levels

Overview
Today last price1.4154
Today Daily Change15 pips
Today Daily Change %0.11%
Today daily open1.4139
 
Trends
Daily SMA201.4083
Daily SMA501.3601
Daily SMA1001.3375
Daily SMA2001.3287
 
Levels
Previous Daily High1.4299
Previous Daily Low1.4079
Previous Weekly High1.456
Previous Weekly Low1.3922
Previous Monthly High1.4668
Previous Monthly Low1.3315
Daily Fibonacci 38.2%1.4163
Daily Fibonacci 61.8%1.4215
Daily Pivot Point S11.4046
Daily Pivot Point S21.3953
Daily Pivot Point S31.3826
Daily Pivot Point R11.4265
Daily Pivot Point R21.4392
Daily Pivot Point R31.4485

Author

Anil Panchal

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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