USD/CAD Technical Analysis: Bullish above 1.3345

Omkar Godbole FXStreet Contributor

USD/CAD defended the 50-day moving average (MA) support on Tuesday with a long-tailed candle, which is widely considered an early warning of a potential bullish reversal.

The trend change, however, would be confirmed only if the spot sees a convincing break above 1.3345 (high of the long-tailed doji) today.

A close above 1.3345 would open the doors to re-test of recent highs above 1.3460.

A close below 1.3250 (low of the long-tailed candle) could invite stronger bearish pressures.

Daily chart

Trend: Needs bull close above 1.3345

USD/CAD

Overview
Today last price	1.3332
Today Daily Change	13
Today Daily Change %	0.10
Today daily open	1.3319

Trends
Daily SMA20	1.3292
Daily SMA50	1.3264
Daily SMA100	1.3306
Daily SMA200	1.3191

Levels
Previous Daily High	1.3349
Previous Daily Low	1.3251
Previous Weekly High	1.344
Previous Weekly Low	1.3287
Previous Monthly High	1.3341
Previous Monthly Low	1.3069
Daily Fibonacci 38.2%	1.3288
Daily Fibonacci 61.8%	1.3311
Daily Pivot Point S1	1.3263
Daily Pivot Point S2	1.3208
Daily Pivot Point S3	1.3165
Daily Pivot Point R1	1.3361
Daily Pivot Point R2	1.3404
Daily Pivot Point R3	1.3459

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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