• The pair's intraday corrective slide from 4-1/2 month tops, touched overnight, has been along a short-term descending trend-channel on 15/30-mins charts.
• Against the backdrop of a strong up-move over the past two-trading session, the mentioned channel constituted towards the formation of a bullish flag.
• Technical indicators on hourly charts have already cooled off from overbought zones and continue holding in the bullish territory on the daily chart.
• The technical set-up support prospects for a continuation of the up-move and hence, a move towards June swing highs, around 1.3385-90 region, remains a distinct possibility.
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USD/CAD
Overview:
Last Price: 1.329
Daily change: -17 pips
Daily change: -0.128%
Daily Open: 1.3307
Trends:
Daily SMA20: 1.3154
Daily SMA50: 1.305
Daily SMA100: 1.3069
Daily SMA200: 1.2973
Levels:
Daily High: 1.332
Daily Low: 1.3156
Weekly High: 1.3264
Weekly Low: 1.3127
Monthly High: 1.3172
Monthly Low: 1.2783
Daily Fibonacci 38.2%: 1.3257
Daily Fibonacci 61.8%: 1.3218
Daily Pivot Point S1: 1.3202
Daily Pivot Point S2: 1.3097
Daily Pivot Point S3: 1.3038
Daily Pivot Point R1: 1.3366
Daily Pivot Point R2: 1.3425
Daily Pivot Point R3: 1.353
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