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.

Anil Panchal FXStreet

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 price	1.4154
Today Daily Change	15 pips
Today Daily Change %	0.11%
Today daily open	1.4139

Trends
Daily SMA20	1.4083
Daily SMA50	1.3601
Daily SMA100	1.3375
Daily SMA200	1.3287

Levels
Previous Daily High	1.4299
Previous Daily Low	1.4079
Previous Weekly High	1.456
Previous Weekly Low	1.3922
Previous Monthly High	1.4668
Previous Monthly Low	1.3315
Daily Fibonacci 38.2%	1.4163
Daily Fibonacci 61.8%	1.4215
Daily Pivot Point S1	1.4046
Daily Pivot Point S2	1.3953
Daily Pivot Point S3	1.3826
Daily Pivot Point R1	1.4265
Daily Pivot Point R2	1.4392
Daily Pivot Point R3	1.4485

Author

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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