USD/CAD Price Analysis: Seesaws in a short-term triangle below 1.3200

USD/CAD struggles for a clear direction while keeping the 1.3153-1.3197 range.
Sustained trading beyond 200-HMA favors the bulls.
The key Fibonacci retracement levels add barriers to sellers’ entry.

Anil Panchal FXStreet

USD/CAD takes rounds to 1.3175 during the early Asian session on Tuesday. In doing so, the loonie pair stays within a four-day-old symmetrical triangle.

While MACD fails to provide any clear signal, the pairs’ ability to remain beyond 200-HMA favors the bulls.

However, a clear break of the triangle’s resistance line, at 1.3188 now, will challenge Friday’s top near 1.3207 ahead of highlighting 1.3230 and the monthly top near 1.3260 for the bulls.

Alternatively, the pair’s downside break of the said triangle’s support, currently around 1.3165, will need to slip beneath the 200-HMA level of 1.3143 to convince the sellers.

Following that, 50% and 61.8% Fibonacci retracement levels of the pair’s early-month rise, respectively around 1.3130 and 1.3095, can probe the quote’s further downside.

USD/CAD hourly chart

Trend: Sideways

Additional important levels

Overview
Today last price	1.3177
Today Daily Change	-1 pip
Today Daily Change %	-0.01%
Today daily open	1.3178

Trends
Daily SMA20	1.3146
Daily SMA50	1.3317
Daily SMA100	1.3539
Daily SMA200	1.3521

Levels
Previous Daily High	1.3208
Previous Daily Low	1.3151
Previous Weekly High	1.326
Previous Weekly Low	1.3053
Previous Monthly High	1.3451
Previous Monthly Low	1.302
Daily Fibonacci 38.2%	1.3173
Daily Fibonacci 61.8%	1.3186
Daily Pivot Point S1	1.315
Daily Pivot Point S2	1.3122
Daily Pivot Point S3	1.3094
Daily Pivot Point R1	1.3207
Daily Pivot Point R2	1.3236
Daily Pivot Point R3	1.3264

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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