USD/CAD Technical Analysis: 200-day SMA, 1.3290/95 question further upside


  • USD/CAD takes the bids to the monthly high.
  • Overbought RSI conditions, nearness to key resistances could limit further upside.
  • Two-week-old rising trend line acts as nearby key support.

Despite trading near the highest in nearly five weeks, USD/CAD is likely to find multiple resistances on the upside as it takes rounds to 1.3260 during Thursday’s pre-European session.

Among them, a 200-day Simple Moving Average (SMA) level of 1.3280 will be the first one to question buyers, failing to which can escalate the pair’s rise to 1.3290/95 confluence comprising 50% Fibonacci retracement of May-July declines and a downward sloping trend-line since May-end.

Should buyers ignore overbought conditions of 14-day Relative Strength Index (RSI) and dominate beyond 1.3300 round figures, another descending resistance line, from June 18, can question them near 1.3340.

Meanwhile, a two-week-old rising support line, at 1.3205, acts as immediate support that holds the key to pair’s fresh declines targeting 23.6% Fibonacci retracement level of 1.3145.

USD/CAD daily chart

Trend: Pullback expected

additional important levels

Overview
Today last price 1.3264
Today Daily Change 12 pips
Today Daily Change % 0.09%
Today daily open 1.3252
 
Trends
Daily SMA20 1.3143
Daily SMA50 1.3208
Daily SMA100 1.3198
Daily SMA200 1.3277
 
Levels
Previous Daily High 1.327
Previous Daily Low 1.3227
Previous Weekly High 1.3238
Previous Weekly Low 1.3114
Previous Monthly High 1.3349
Previous Monthly Low 1.3042
Daily Fibonacci 38.2% 1.3253
Daily Fibonacci 61.8% 1.3243
Daily Pivot Point S1 1.3229
Daily Pivot Point S2 1.3206
Daily Pivot Point S3 1.3186
Daily Pivot Point R1 1.3272
Daily Pivot Point R2 1.3292
Daily Pivot Point R3 1.3315

 

 

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