USD/CAD Price Analysis: Greenback remains weak vs. Canadian dollar

USD/CAD stays under selling pressure below the 1.4000 level.
Further weakness can be on the cards with bears eyeing the May’s lows.

Flavio Tosti Independent Analyst

USD/CAD four-hour chart

USD/CAD is trading below the main SMAs on the four-hour chart as bears are keeping the market below the 1.4000 figure at the start of the new trading week. More weakness could see USD/CAD travelling south towards the 1.3880 level initially followed by the 1.3820 and 1.3760 levels. On the other hand, strong resistance is seen near the 1.4000 level. In case the spot breach this level, 1.4040 and 1.4080 can come into play in the medium-term.

Resistance: 1.3980, 1.4040, 1.4080

Support: 1.3880, 1.3820, 1.3760

Additional key levels

USD/CAD

Overview
Today last price	1.3987
Today Daily Change	-0.0013
Today Daily Change %	-0.09
Today daily open	1.4

Trends
Daily SMA20	1.4011
Daily SMA50	1.4089
Daily SMA100	1.368
Daily SMA200	1.3446

Levels
Previous Daily High	1.4049
Previous Daily Low	1.3942
Previous Weekly High	1.4114
Previous Weekly Low	1.3867
Previous Monthly High	1.4299
Previous Monthly Low	1.385
Daily Fibonacci 38.2%	1.4008
Daily Fibonacci 61.8%	1.3982
Daily Pivot Point S1	1.3944
Daily Pivot Point S2	1.3889
Daily Pivot Point S3	1.3837
Daily Pivot Point R1	1.4052
Daily Pivot Point R2	1.4104
Daily Pivot Point R3	1.4159

Author

Flavio Tosti

Independent Analyst

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