USD/CAD Technical Analysis: 61.8% Fibo. level of the recent upsurge tested ahead of FOMC minutes

   •  The pair extended overnight bearish slide below 100-day SMA support and remained under some heavy selling pressure for the fourth consecutive session on Wednesday.

   •  The pair has now dropped to 61.8% Fibonacci retracement level of the 1.3069-1.3340 recent upsurge, which if broken might accelerate the slide towards 200-day SMA.

   •  Technical indicators on hourly/daily charts are holding in the negative territory and point to further downside, despite a modest USD rebound/pull-back in oil prices.

   •  However, a sustained recovery back above the 1.3200 handle might trigger a short-covering bounce towards 100-DMA support turned resistance, near the 1.3235 region.

USD/CAD 1-hourly chart


    Today Last Price: 1.3176
    Today Daily change %: -0.27%
    Today Daily Open: 1.3212
    Daily SMA20: 1.3231
    Daily SMA50: 1.3356
    Daily SMA100: 1.3253
    Daily SMA200: 1.3152
    Previous Daily High: 1.3294
    Previous Daily Low: 1.3204
    Previous Weekly High: 1.3341
    Previous Weekly Low: 1.3196
    Previous Monthly High: 1.3664
    Previous Monthly Low: 1.3118
    Daily Fibonacci 38.2%: 1.3239
    Daily Fibonacci 61.8%: 1.326
    Daily Pivot Point S1: 1.3179
    Daily Pivot Point S2: 1.3147
    Daily Pivot Point S3: 1.3089
    Daily Pivot Point R1: 1.3269
    Daily Pivot Point R2: 1.3327
    Daily Pivot Point R3: 1.3359


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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: 50-day SMA restricts immediate recovery

EUR/USD buyers look for confirmation, despite recent bounce, as prices still trade below the near-term key moving average, around 1.1025, during early Friday.


GBP/USD: On the bids above 100-bar SMA

GBP/USD holds on to recovery gains from 50% Fib retracement level while taking the bids to 1.2885 during the early Asian. Bullish MACD indicates pair’s another run-up to the short-term key resistance line.


USD/JPY extends the bounce above 108.50 on rising trade deal hopes

The USD/JPY pair extends its bounce from eight-day lows of 108.25 in Friday's Asian trading, with the bulls regaining control above 108.50 after White House Economic Adviser Kudlow's comments bolstered US-China trade deal hopes. 


Gold awaits clear direction around $1470 amid risk reset

With the fresh optimism surrounding the US-China trade accord, Gold prices struggle to extend the previous recovery while taking rounds to $1,471 amid Friday’s initial Asian trading session.

Gold News

US China trade and the global economy: Q&A with FXStreet senior analyst

After the meetings in October it was unclear if the new levies planned for December would be called off. And now, reports suggest that past duties may be removed. All in all, a positive development, isn't it?

Read more