USD/CAD Price Analysis: Recovery moves eye 1.3030 resistance confluence


  • USD/CAD keeps Tuesday’s pullback from 13-day low, recently sideways near intraday high.
  • Bullish MACD favor recovery moves towards 100-HMA, weekly resistance line.
  • Monthly low can lure the bears below 1.2985.

USD/CAD wavers around 1.3020 amid Friday’s Asian session. Even if the quote struggles for a clear direction off-late, it holds the corrective recoveries from the 13-day low marked on Wednesday.

While bullish MACD backs the recently positive trading momentum, a joint of 100-HMA and a falling trend line from Monday around 1.3030 restricts the pair’s immediate upside.

In a case where the USD/CAD bulls manage to cross 1.3030, the weekly top surrounding 1.3110 will be on their radar. Though, Tuesday’s high of 1.3090 can act as an intermediate halt during the rise.

On the flip side, an immediate ascending trend line around 1.3015 and 1.3000 can restrict the pair’s short-term downside moves.

Also acting as the key support is the weekly low near 1.2985 that holds the gate for further south-run targeting the monthly trough near 1.2930.

USD/CAD hourly chart

Further recovery expected

Additional important levels

Overview
Today last price 1.3021
Today Daily Change 1 pip
Today Daily Change % 0.01%
Today daily open 1.302
 
Trends
Daily SMA20 1.3092
Daily SMA50 1.3184
Daily SMA100 1.3235
Daily SMA200 1.3529
 
Levels
Previous Daily High 1.3023
Previous Daily Low 1.299
Previous Weekly High 1.3142
Previous Weekly Low 1.3034
Previous Monthly High 1.339
Previous Monthly Low 1.3081
Daily Fibonacci 38.2% 1.301
Daily Fibonacci 61.8% 1.3003
Daily Pivot Point S1 1.2999
Daily Pivot Point S2 1.2979
Daily Pivot Point S3 1.2967
Daily Pivot Point R1 1.3031
Daily Pivot Point R2 1.3043
Daily Pivot Point R3 1.3063

 

 

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