USD/CAD Price Analysis: Struggles between 10/21-day SMA


  • USD/CAD clings to 23.6% Fibonacci retracement of September 2019 to January 2020 fall.
  • 50-day SMA, 50% Fibonacci retracement adds to the resistance.

USD/CAD remains mostly unchanged to 1.3045 while heading into the European session on Thursday. The pair maintains its trading between the 10-day and 21-day SMAs while sticking to 23.6% Fibonacci retracement of declines from September 2019 peak to the year-start bottom.

Hence, fewer moves are expected until the quote breaks either side of the 35-pip range between the 21-day SMA level of 1.3065 or 10-day SMA level of 1.3030.

While the upside clearance will propel the quote towards a 38.2% Fibonacci retracement level of 1.3110, sellers will confront 1.3000 on the downside break of 1.3030 comprising 10-day SMA.

On a wider frame, a confluence of 50-day SMA and 50% Fibonacci retracement near 1.3160/65 and the recent lows near 1.2945/40 will be the keys to watch.

USD/CAD daily chart

Trend: Sideways 

Additional important levels

Overview
Today last price 1.3045
Today Daily Change -2 pips
Today Daily Change % -0.02%
Today daily open 1.3047
 
Trends
Daily SMA20 1.3063
Daily SMA50 1.3166
Daily SMA100 1.3191
Daily SMA200 1.3243
 
Levels
Previous Daily High 1.308
Previous Daily Low 1.3034
Previous Weekly High 1.3106
Previous Weekly Low 1.2956
Previous Monthly High 1.3322
Previous Monthly Low 1.2951
Daily Fibonacci 38.2% 1.3052
Daily Fibonacci 61.8% 1.3062
Daily Pivot Point S1 1.3028
Daily Pivot Point S2 1.3009
Daily Pivot Point S3 1.2983
Daily Pivot Point R1 1.3073
Daily Pivot Point R2 1.3099
Daily Pivot Point R3 1.3118

 

 

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