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

USD/CAD

Overview
Today last price 1.3353
Today Daily Change -0.0009
Today Daily Change % -0.07
Today daily open 1.3362
 
Trends
Daily SMA20 1.3179
Daily SMA50 1.3259
Daily SMA100 1.347
Daily SMA200 1.3524
 
Levels
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

 

 

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.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD edges above 1.18 amid mixed US data, slim stimulus hopes

EUR/USD is trading above 1.30 after US Durable Goods Orders beat expectations but Consumer Confidence missed estimates. Hopes for a US stimulus deal are slim with a week left until the elections.

EUR/USD News

GBP/USD stabilizes above 1.30 amid Brexit and covid uncertainty

GBP/USD is hovering above the round 1.30 levels as rising UK COVID-19 cases, uncertainty about Brexit, and PM Johnson's political problems weigh on sterling. US data has been mixed.

GBP/USD News

XAU/USD pares early gains, turns flat near $1,900

For the third straight trading day on Tuesday, the XAU/USD pair is moving sideways above $1,900 as participants wait for the next significant catalyst. After climbing to a daily high of $1,910 earlier in the day, the pair lost its traction and was last seen trading virtually unchanged on the day at $1,902.

Gold News

Bitcoin breaks new yearly highs; the road to $15,000 is clear

Bitcoin breaks new yearly highs and hits $13,464. The road to $15,000 is clear as there are no major resistance levels above the current price.

Read more

WTI trims losses and moves near $39.00/bbl ahead of API

Following two consecutive daily pullbacks, prices of the West Texas Intermediate regain some buying interest and reach the $39.00 mark per barrel on turnaround Tuesday.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures