- 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
Additional important levels
|Today last price||1.3045|
|Today Daily Change||-2 pips|
|Today Daily Change %||-0.02%|
|Today daily open||1.3047|
|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|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.