- USD/CAD portrays a successful U-turn from 100-bar SMA.
- Mid-October highs will be the next on bull’s radar after a sustained breakout.
- 23.6% Fibonacci retracement could please sellers.
Following its successful reversal from 100-bar SMA, USD/CAD again confronts 1.3195/3200 key resistance region during early Thursday in Asia.
Prices reversed from the said resistance confluence multiple times ever since falling beneath the same on October 17. Also increasing the odds of another pullback is the heating levels of the 14-bar Relative Strength Index.
As a result, sellers can take aim at 38.2% Fibonacci retracement level of October month declines, at 1.3160 during the quote’s another U-turn. However, a 100-bar SMA level of 1.3124 and 23.6% Fibonacci retracement around 1.3115 may question bears afterward.
In a case where the bulls keep dominating past-1.3200, October 14 high near 1.3250 and 1.3300 can offer intermediate stops to the run-up towards the previous month top of 1.3348.
USD/CAD 4-hour chart
Trend: pullback expected
additional important levels
|Today last price||1.3192|
|Today Daily Change||10 pips|
|Today Daily Change %||0.08%|
|Today daily open||1.3182|
|Previous Daily High||1.3194|
|Previous Daily Low||1.3143|
|Previous Weekly High||1.3209|
|Previous Weekly Low||1.3042|
|Previous Monthly High||1.3349|
|Previous Monthly Low||1.3042|
|Daily Fibonacci 38.2%||1.3175|
|Daily Fibonacci 61.8%||1.3163|
|Daily Pivot Point S1||1.3152|
|Daily Pivot Point S2||1.3122|
|Daily Pivot Point S3||1.3101|
|Daily Pivot Point R1||1.3203|
|Daily Pivot Point R2||1.3224|
|Daily Pivot Point R3||1.3254|
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