USD/CAD Price Analysis: Crosses 1.2785 resistance to snap two-day downtrend

USD/CAD regains upside momentum after marking two-day losses.
Upside break of 50-HMA, weekly falling trend line joins firmer Momentum line to favor buyers.
200-HMA, 61.8% Fibonacci retracement restrict bear’s entry before fortnight-old support line.

Anil Panchal FXStreet

USD/CAD pierces short-term key hurdle to the north as bulls attack 1.2800 threshold, up 0.14% intraday near 1.2795 during early Thursday.

In addition to a sustained break of 50-HMA and weekly descending trend line breakout, a firmer Momentum line adds to the bullish bias for the USD/CAD.

Hence, 1.2850 is on the cards ahead of the monthly top near 1.2900.

However, any further upside past 1.2900 will not hesitate to challenge the yearly peak of 1.2949.

Alternatively, the resistance-turned-support near 1.2785 restricts immediate downside of the USD/CAD prices ahead of the 200-HMA level surrounding 1.2715.

Also challenging the USD/CAD sellers is 61.8% Fibonacci retracement of September 10-20 upside, as well as a two-week-old horizontal area, respectively near 1.2700 and 1.2695.

USD/CAD: Hourly chart

Trend: Further upside expected

Additional important levels

Overview
Today last price	1.2792
Today Daily Change	0.0019
Today Daily Change %	0.15%
Today daily open	1.2773

Trends
Daily SMA20	1.2665
Daily SMA50	1.2617
Daily SMA100	1.2421
Daily SMA200	1.2525

Levels
Previous Daily High	1.2826
Previous Daily Low	1.2698
Previous Weekly High	1.2774
Previous Weekly Low	1.2601
Previous Monthly High	1.2949
Previous Monthly Low	1.2453
Daily Fibonacci 38.2%	1.2747
Daily Fibonacci 61.8%	1.2777
Daily Pivot Point S1	1.2705
Daily Pivot Point S2	1.2638
Daily Pivot Point S3	1.2577
Daily Pivot Point R1	1.2834
Daily Pivot Point R2	1.2894
Daily Pivot Point R3	1.2962

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.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.