- 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
|Today last price||1.3063|
|Today Daily Change||-18 pips|
|Today Daily Change %||-0.14%|
|Today daily open||1.3081|
|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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