USD/CAD Price Analysis: Dollar trades in 49-month highs, best weekly gains since early 2015

USD/CAD is on track to record one of its best weekly advances since January 2015.
USD/CAD is trading at levels not seen since February 2016.
USD/CAD is challenging the 1.1400 figure as bulls are relentless.

Flavio Tosti Independent Analyst

USD/CAD daily chart

USD/CAD is massively breaking out to the upside trading into levels not seen since February 2016 as the market is challenging the 1.1400 figure. The oil crash is sending CAD down.

USD/CAD daily chart

USD/CAD is spiking up strongly like it was not seen in the last five years. Bulls are challenging the 1.3972/1.4000 resistance zone. The spike up can extend towards the 1.4100 level and above according to the Technical Confluences Indicator. Resistance can be expected near 1.3914 and 1.3871 levels.

Resistance: 1.3972, 1.4000, 1.4100

Support: 1.3914, 1.3871, 1.3800

Additional key levels

USD/CAD

Overview
Today last price	1.395
Today Daily Change	0.0027
Today Daily Change %	0.19
Today daily open	1.3923

Trends
Daily SMA20	1.3411
Daily SMA50	1.3255
Daily SMA100	1.3219
Daily SMA200	1.3217

Levels
Previous Daily High	1.3961
Previous Daily Low	1.3708
Previous Weekly High	1.344
Previous Weekly Low	1.3315
Previous Monthly High	1.3465
Previous Monthly Low	1.3202
Daily Fibonacci 38.2%	1.3864
Daily Fibonacci 61.8%	1.3805
Daily Pivot Point S1	1.3767
Daily Pivot Point S2	1.361
Daily Pivot Point S3	1.3513
Daily Pivot Point R1	1.4021
Daily Pivot Point R2	1.4118
Daily Pivot Point R3	1.4274

Author

Flavio Tosti

Independent Analyst

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