USD/CAD Price Analysis: Thursday's low offers support

  • USD/CAD has bounced up from Thursday's low of 1.3325. 
  • The immediate bias remains neutral with pair stuck in Thursday's trading range.

USD/CAD is trading at 1.3353 at press time, having defended Thursday's low of 1.3325 early today. 

Despite the recovery, the immediate bias remains neutral. That's because the pair is still trading well within the range of Thursday's candle, whose long upper and lower wicks indicate indecision. 

A move above Thursday's high of 1.3418 would mean the period of indecision has ended with a bullish breakout. That would open the doors to the 100-day simple moving average (SMA), currently at 1.3462. 

Alternatively, acceptance below Thursday's low of 1.3325 would confirm a bearish reversal. 

With the 5- and 10-day SMAs trending north and the daily chart reporting a higher low and higher pattern, the odds appear stacked in favor of a break above Thursday's high of 1.3418. 

Daily chart

Trend: Bullish above 1.3418

Technical levels


Today last price 1.3353
Today Daily Change -0.0009
Today Daily Change % -0.07
Today daily open 1.3362
Daily SMA20 1.3179
Daily SMA50 1.3259
Daily SMA100 1.347
Daily SMA200 1.3524
Previous Daily High 1.3418
Previous Daily Low 1.3325
Previous Weekly High 1.3247
Previous Weekly Low 1.3128
Previous Monthly High 1.3451
Previous Monthly Low 1.302
Daily Fibonacci 38.2% 1.3361
Daily Fibonacci 61.8% 1.3383
Daily Pivot Point S1 1.3319
Daily Pivot Point S2 1.3276
Daily Pivot Point S3 1.3226
Daily Pivot Point R1 1.3412
Daily Pivot Point R2 1.3461
Daily Pivot Point R3 1.3505



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