USD/CAD Price Analysis: Heavy below 1.4200, sellers aim for 100-HMA

USD/CAD fails to hold onto recovery gains, offered below 200-HMA.
An eight-day-old falling trend line adds to the resistance.
The weekly support line can please sellers below 100-HMA.

Anil Panchal FXStreet

While extending its pullback moves from 200-HMA, USD/CAD declines to 1.4172, down 0.11%, ahead of the European session on Thursday.

That said, the pair currently drops towards 100-HMA level around 1.4130 whereas an upward sloping trend line from March 27, at 1.4068 now, could lure the bears afterward.

In a case where the USD/CAD prices stay below 1.4068, Tuesday’s low near 1.4010 holds the key to the pair’s fall towards 1.3920.

Meanwhile, the pair’s upside clearance of 200-HMA level, around 1.4240 now, enables it to aim for a short-term falling trend line near 1.4270.

Though, pair’s sustained run-up past-1.4270 will help the bulls to challenge the weekly top surrounding 1.4350.

USD/CAD hourly chart

Trend: Sideways

Additional important levels

Overview
Today last price	1.4176
Today Daily Change	-12 pips
Today Daily Change %	-0.08%
Today daily open	1.4188

Trends
Daily SMA20	1.4047
Daily SMA50	1.3581
Daily SMA100	1.3366
Daily SMA200	1.3282

Levels
Previous Daily High	1.4272
Previous Daily Low	1.4064
Previous Weekly High	1.456
Previous Weekly Low	1.3922
Previous Monthly High	1.4668
Previous Monthly Low	1.3315
Daily Fibonacci 38.2%	1.4192
Daily Fibonacci 61.8%	1.4143
Daily Pivot Point S1	1.4077
Daily Pivot Point S2	1.3966
Daily Pivot Point S3	1.3869
Daily Pivot Point R1	1.4286
Daily Pivot Point R2	1.4383
Daily Pivot Point R3	1.4494

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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