USD/CAD Price Analysis: Holds onto recovery gains from 21-day SMA


  • USD/CAD remains mildly bid near the three-day top.
  • The pair extends run-up from 21-day SMA but stays below 10-day SMA amid bearish MACD.
  • 23.6% Fibonacci retracement, eight-day-old falling trend line adds to resistance.

USD/CAD registers 0.10% gains while extending the previous day’s pullback from 21-day SMA to 1.4180 amid the pre-Europe session on Tuesday.

While 10-day SMA near 1.4290 is on the buyers’ radars, 23.6% Fibonacci retracement of the pair’s upside between February 21 and March 19, coupled with short-term falling trend line around 1.4320/25 will limit the pair’s further upside.

If at all buyers manage to cross 1.4325 on a daily closing basis, 1.4370, 1.4420 and 1.4560 can check buyers ahead of offering them the monthly top near 1.4670.

On the contrary, bearish MACD can help the sellers question 61.8% Fibonacci retracement level of 1.3760 if USD/CAD prices flash a daily close past-21-day SMA level of 1.3980.

It should also be noted that the early-month gap near 1.3440 will be in the market’s attention if the quote stays weak below 1.3760.

USD/CAD daily chart

Trend: Sideways

Additional important levels

Overview
Today last price 1.4179
Today Daily Change 12 pips
Today Daily Change % 0.08%
Today daily open 1.4167
 
Trends
Daily SMA20 1.3972
Daily SMA50 1.354
Daily SMA100 1.3348
Daily SMA200 1.3272
 
Levels
Previous Daily High 1.4184
Previous Daily Low 1.3983
Previous Weekly High 1.456
Previous Weekly Low 1.3922
Previous Monthly High 1.3465
Previous Monthly Low 1.3202
Daily Fibonacci 38.2% 1.4107
Daily Fibonacci 61.8% 1.406
Daily Pivot Point S1 1.4039
Daily Pivot Point S2 1.391
Daily Pivot Point S3 1.3837
Daily Pivot Point R1 1.424
Daily Pivot Point R2 1.4312
Daily Pivot Point R3 1.4441

 

 

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