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

Today last price 1.3264
Today Daily Change 12 pips
Today Daily Change % 0.09%
Today daily open 1.3252
Daily SMA20 1.3143
Daily SMA50 1.3208
Daily SMA100 1.3198
Daily SMA200 1.3277
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



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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.


GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.


XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI once again breaks $40 per barrel after trading lower in early EU trade

There has been quite the bounce in WTI since the EU session after some strong selling pressure during Thursday and overnight. Once again on Friday's session, the price has taken the USD 40 per barrel handle. 

Oil News