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. 

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


Today last price 1.2976
Today Daily Change -0.0013
Today Daily Change % -0.10
Today daily open 1.2989
Daily SMA20 1.312
Daily SMA50 1.3182
Daily SMA100 1.3211
Daily SMA200 1.3255
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



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

AUD/USD drops following higher than expected Aussie Unemployment Rate

AUD/USD fails to cheer an increase in Employment Change. The pair declines to 0.6678 after flashing the intra-day low of 0.6668 as Australia’s employment data disappoints Aussie traders on early Thursday.


USD/JPY bulls catch a breath near multi-month top, stays above 111.00

USD/JPY seesaws around 111.30 at the start of Asian session. The risk barometer surged to the highest in nine months the previous day as Chinese authorities manage to placate traders. The pair consolidates gains following FOMC minutes.


Gold: Pulls back amid overbought RSI, multiple upside barriers ahead

Gold prices decline to $1,606 during the early Thursday. The yellow metal surged to the highest since March 2013 the previous day but failed to hold onto gains due to the overbought RSI conditions.

Gold News

WTI upside remains capped by $53.00 ahead of API

WTI oil stays upbeat, following the run-up to the monthly high before a few minutes, as taking rounds to $53.70 amid the initial Asian session on Thursday. The black gold recently benefited from the weekly inventory data from the API.

Oil News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info