USD/CAD technical analysis: 10-day SMA, 3-week old support-line question sellers

The USD/CAD pair’s pullback from 200-day SMA takes rest around short-term key supports.
23.6% Fibonacci retracement and 1.3355 can entertain traders during either side breaks.

Anil Panchal FXStreet

Following its failure to sustained 200-day SMA break, USD/CAD rests on 10-day SMA while trading near 1.3220 ahead of Friday’s European open.

In addition to 10-day simple moving average (SMA) level of 1.3215, an upward sloping trend-line since July 19, at 1.3185, also limits pair’s near-term declines.

Given the sellers dominate after 1.3185, 23.6% Fibonacci retracement of May-end to mid-July south-run near 1.3145 can flash on their radar.

Meanwhile, pair’s U-turn from current levels can have 50% Fibonacci retracement level of 1.3290 and 200-day SMA, at 1.3305, as immediate resistance, a break of which can push prices to 61.8% Fibonacci retracement level of 1.3355.

USD/CAD daily chart

Trend: Sideways

Additional important levels

Overview
Today last price	1.3222
Today Daily Change	-5 pips
Today Daily Change %	-0.04%
Today daily open	1.3227

Trends
Daily SMA20	1.3149
Daily SMA50	1.32
Daily SMA100	1.3307
Daily SMA200	1.3309

Levels
Previous Daily High	1.3316
Previous Daily Low	1.3222
Previous Weekly High	1.3267
Previous Weekly Low	1.3106
Previous Monthly High	1.3215
Previous Monthly Low	1.3016
Daily Fibonacci 38.2%	1.3257
Daily Fibonacci 61.8%	1.328
Daily Pivot Point S1	1.3194
Daily Pivot Point S2	1.3161
Daily Pivot Point S3	1.31
Daily Pivot Point R1	1.3288
Daily Pivot Point R2	1.3349
Daily Pivot Point R3	1.3382

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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