USD/CAD Price Analysis: Slips below 100-bar SMA, monthly low becomes the key


  • USD/CAD remains on the back foot, follows a one-week-old falling trend line.
  • 200-bar SMA, 50% Fibonacci retracement can please sellers below the fresh monthly bottom.
  • 1.3330 offers the key upside resistance.

USD/CAD declines to 1.3238, down 0.10%, by the press time of the pre-European session on Monday.

Other than the pair’s sustained follow-up of the one-week-old descending trend line, its break of 100-bar SMA also favors the sellers. However, bears are waiting for entry below the monthly low surrounding 1.3230.

In doing so, 38.2% Fibonacci retracement level of the pair’s rise from December 31, 2019, to February 10, 2020, around 1.3185, will be on their radars.

Alternatively, an upside clearance of the short-term falling trend line, at 1.3250 now, can trigger the pair’s fresh run-up towards 1.3280 and 1.3300.

However, the bears can’t lose their hopes unless the quote rallies beyond the monthly top surrounding 1.3330.

USD/CAD four-hour chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 1.3236
Today Daily Change -13 pips
Today Daily Change % -0.10%
Today daily open 1.3249
 
Trends
Daily SMA20 1.3218
Daily SMA50 1.3143
Daily SMA100 1.318
Daily SMA200 1.322
 
Levels
Previous Daily High 1.327
Previous Daily Low 1.3236
Previous Weekly High 1.333
Previous Weekly Low 1.3236
Previous Monthly High 1.3255
Previous Monthly Low 1.29
Daily Fibonacci 38.2% 1.3249
Daily Fibonacci 61.8% 1.3257
Daily Pivot Point S1 1.3233
Daily Pivot Point S2 1.3217
Daily Pivot Point S3 1.3198
Daily Pivot Point R1 1.3268
Daily Pivot Point R2 1.3287
Daily Pivot Point R3 1.3303

 

 

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