USD/CAD technical analysis: Bulls await a sustained move beyond 200-DMA

The USD/CAD pair climbed to over one-month tops, around the 1.3270 region.
Technical set-up support prospects for a further near-term appreciating move.

Haresh Menghani FXStreet

The USD/CAD pair gained some follow-through traction for the fifth consecutive session on Thursday and climbed to fresh one-month tops, around the 1.3265-70 region during the early North-American session.

Technical indicators on the daily chart have been gaining traction and support prospects for an extension of the ongoing appreciating move towards the very important 200-day SMA resistance near the 1.3275 region.

Some follow-through buying beyond the mentioned barrier has the potential to lift the pair further towards the 1.3300 handle en-route five-month-old descending trend-line resistance near the 1.3325-30 region.

On the flip side, immediate support is pegged near the 1.3235 horizontal zone and is followed by the 1.3200 round-figure mark, which if broken might accelerate the slide further towards the 1.3170-65 support zone.

Failure to defend the latter will negate any prospects for any further near-term positive move and turn the pair vulnerable to accelerate the slide further towards challenging the 1.3100 round-figure mark.

USD/CAD daily chart

USD/CAD

Overview
Today last price	1.3266
Today Daily Change	0.0014
Today Daily Change %	0.11
Today daily open	1.3252

Trends
Daily SMA20	1.3143
Daily SMA50	1.3208
Daily SMA100	1.3198
Daily SMA200	1.3277

Levels
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

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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