USD/CAD Price Analysis: Depressed inside short-term trading range below 1.3100


  • USD/CAD sellers eye lower end of the one-week-old trading range.
  • Normal RSI, sustained trading below 200-bar SMA keep sellers hopeful.
  • November 13 top adds to the upside filters.

USD/CAD drops to 1.3062, down 0.14% intraday, during Tuesday’s Asian session. Even so, the pair maintains the sideways momentum established since November 16.

Considering the normal RSI conditions, coupled with weakness below 200-bar SMA, the quote is likely declining towards the range support near 1.3045 ahead of looking at the 1.3030 rest-point.

During the USD/CAD sellers’ reign past-1.3030, the 1.3000 psychological magnet holds the key to further downside targeting the monthly bottom surrounding 1.2930.

Alternatively, an upside clearance of the range’s resistance, at 1.3123, will have to cross a 200-bar SMA level of 1.3141 as well as the November 13 high near 1.3172 to convince the USD/CAD buyers.

Following that, the 1.3300 round-figure and the monthly top close to 1.3370 will lure the bulls.

USD/CAD four-hour chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 1.3063
Today Daily Change -18 pips
Today Daily Change % -0.14%
Today daily open 1.3081
 
Trends
Daily SMA20 1.3133
Daily SMA50 1.3194
Daily SMA100 1.3252
Daily SMA200 1.3533
 
Levels
Previous Daily High 1.3112
Previous Daily Low 1.3046
Previous Weekly High 1.3142
Previous Weekly Low 1.3034
Previous Monthly High 1.339
Previous Monthly Low 1.3081
Daily Fibonacci 38.2% 1.3071
Daily Fibonacci 61.8% 1.3087
Daily Pivot Point S1 1.3047
Daily Pivot Point S2 1.3013
Daily Pivot Point S3 1.298
Daily Pivot Point R1 1.3114
Daily Pivot Point R2 1.3147
Daily Pivot Point R3 1.3181

 

 

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