USD/CAD Price Analysis: Greenback vulnerable near 26-month lows, sub-1.3000 handle

USD/CAD remains under selling pressure close to levels not seen since October 2018.
The level to beat for sellers is the 1.2954 support.

Flavio Tosti Independent Analyst

USD/CAD daily chart

USD/CAD is under selling pressure below the main daily simple moving averages (SMAs). The market is trading in a tight consolidation below the 1.3000 handle near levels not seen since October 2018.

USD/CAD four-hour chart

The market is having a sideways consolidation below the 1.3000 handle and the main SMAs. The spot remains fragile to bearish attacks with a potential incursion below the 1.2954 support, which can lead to more losses towards the 1.2873/1.2846 support zone. Conversely, a strong bounce from the current level could become a candidate for a reversal up; however, buyers would need to overcome the 1.3048 and 1.3089 resistances to the upside, according to the Technical Confluences Indicator.

Additional key levels

USD/CAD

Overview
Today last price	1.2976
Today Daily Change	-0.0013
Today Daily Change %	-0.10
Today daily open	1.2989

Trends
Daily SMA20	1.312
Daily SMA50	1.3182
Daily SMA100	1.3211
Daily SMA200	1.3255

Levels
Previous Daily High	1.3006
Previous Daily Low	1.2961
Previous Weekly High	1.3085
Previous Weekly Low	1.2943
Previous Monthly High	1.3322
Previous Monthly Low	1.2951
Daily Fibonacci 38.2%	1.2989
Daily Fibonacci 61.8%	1.2978
Daily Pivot Point S1	1.2964
Daily Pivot Point S2	1.294
Daily Pivot Point S3	1.2919
Daily Pivot Point R1	1.301
Daily Pivot Point R2	1.3031
Daily Pivot Point R3	1.3056

Author

Flavio Tosti

Independent Analyst

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