USD/CAD set for a bounce back into 1.3300 as CAD pauses

  • Stabilization in oil markets is seeing some walkback in USD/CAD, recovering from five-week lows.
  • Plenty of high-impact data to come this week, but the first half sees oil pressured into the middle, providing a balancing effect for the Loonie.

USD/CAD is seeing fresh push towards the 1.3300 handle, lifting into 1.3285 as the Greenback seeks to reclaim ground against the Loonie, which has been getting a helping hand from recovering crude oil prices.

The US Dollar fell to a five-week low against the Loonie last week, touching into the 1.3185 region as crude oil costs saw a sharp recovery on OPEC+ production limits, but with crude prices beginning to balance out at their near-term price levels, the CAD is seeing some bounceback against the USD, and the Dollar-Loonie pairing is seeing a mild recovery for the new week, though the upside is likely to remain limited with plenty of high-impact data due in the latter week for both the CAD and the USD, but the pairing can expect to remain fairly constrained as energy markets keep prices where they are as investors await changes in demand.

USD/CAD Technical Levels

USD/CAD

Overview:
    Today Last Price: 1.329
    Today Daily change: 19 pips
    Today Daily change %: 0.143%
    Today Daily Open: 1.3271
Trends:
    Previous Daily SMA20: 1.3503
    Previous Daily SMA50: 1.3356
    Previous Daily SMA100: 1.3187
    Previous Daily SMA200: 1.3086
Levels:
    Previous Daily High: 1.328
    Previous Daily Low: 1.3182
    Previous Weekly High: 1.339
    Previous Weekly Low: 1.318
    Previous Monthly High: 1.4134
    Previous Monthly Low: 1.316
    Previous Daily Fibonacci 38.2%: 1.3242
    Previous Daily Fibonacci 61.8%: 1.322
    Previous Daily Pivot Point S1: 1.3209
    Previous Daily Pivot Point S2: 1.3147
    Previous Daily Pivot Point S3: 1.3112
    Previous Daily Pivot Point R1: 1.3306
    Previous Daily Pivot Point R2: 1.3341
    Previous Daily Pivot Point R3: 1.3403

 

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