USD/CAD Price Analysis: On the bids above 1.3320/25 resistance confluence

USD/CAD stays on the front foot after clearing the key upside barrier.
September high is on the bulls’ radar, mid-October tops add filter during the pullback.
Bullish MACD, sustained break of crucial resistance favor buyers.

Anil Panchal FXStreet

USD/CAD rises to 1.3365, an intraday high of 1.3370 during Monday’s Asian session. The loonie pair recently crossed a confluence of 100-day SMA and a falling trend line from June 26 amid the bullish MACD.

As a result, the bulls are targeting September month’s high of 1.3420 while also concentrating on the October peak close to 1.3390 and the 1.3400 threshold as immediate upside barriers.

If the bullish MACD favors USD/CAD buyers to clear 1.3420 resistance, the late-July high of 1.3459 and the June 23 low surrounding 1.3485 can return to the charts.

On the contrary, a daily closing below 1.3320/25 technical joint can revisit the October 15 high of 1.3259.

However, USD/CAD bears are less likely to get confirmation until the quote stays above October month’s trough near 1.3080.

USD/CAD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price	1.3369
Today Daily Change	50 pips
Today Daily Change %	0.38%
Today daily open	1.3319

Trends
Daily SMA20	1.3202
Daily SMA50	1.3207
Daily SMA100	1.3331
Daily SMA200	1.3546

Levels
Previous Daily High	1.3348
Previous Daily Low	1.328
Previous Weekly High	1.339
Previous Weekly Low	1.3125
Previous Monthly High	1.339
Previous Monthly Low	1.3081
Daily Fibonacci 38.2%	1.3306
Daily Fibonacci 61.8%	1.3322
Daily Pivot Point S1	1.3283
Daily Pivot Point S2	1.3248
Daily Pivot Point S3	1.3216
Daily Pivot Point R1	1.3351
Daily Pivot Point R2	1.3383
Daily Pivot Point R3	1.3419

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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