USD/CAD technical analysis: Buyers again target 3-week old resistance-line

  • Sustained momentum strength indicates the pair’s ability to confront near-term important resistance.
  • The further upside seems doubtful considering RSI and repeated failures to cross resistance-line.

Having bounced off the 50% Fibonacci retracement of April month upside, USD/CAD is on the bids around 1.3475 ahead of Europe open on Friday.

A descending trend-line stretched since late-April at 1.3500 seems to be of immediate interest to buyers, a break of which can propel the rise towards April high near 1.3525.

However, gradually increasing 14-bar relative strength index (RSI) might create a problem for the quote’s increase beyond 1.3525, if not then an upward sloping line joining the high of January 07 to March tops can question optimists near 1.3560.

Meanwhile, 50% Fibonacci retracement level near 1.3400 acts as immediate support ahead of highlighting 1.3365/70 support-zone comprising 61.8% Fibonacci retracement.

In a case where prices keep trading south after 1.3365, 1.3300 and 1.3275 support levels could become bears’ favorites.

USD/CAD 4-Hour chart

Trend: Positive

Additional important levels

Today last price 1.347
Today Daily Change 8 pips
Today Daily Change % 0.06%
Today daily open 1.3462
Daily SMA20 1.3446
Daily SMA50 1.3392
Daily SMA100 1.334
Daily SMA200 1.3245
Previous Daily High 1.3472
Previous Daily Low 1.34
Previous Weekly High 1.3506
Previous Weekly Low 1.338
Previous Monthly High 1.3522
Previous Monthly Low 1.3274
Daily Fibonacci 38.2% 1.3444
Daily Fibonacci 61.8% 1.3428
Daily Pivot Point S1 1.3417
Daily Pivot Point S2 1.3373
Daily Pivot Point S3 1.3346
Daily Pivot Point R1 1.3489
Daily Pivot Point R2 1.3516
Daily Pivot Point R3 1.356



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 remains on the back foot amid ongoing trade concerns

EUR/USD is trading around 1.1150, the lowest in over two weeks. Markets are worried about US-Sino trade tensions as US companies stop working with China's Huawei. European elections are warming up.


GBP/USD consolidates its losses amid Brexit pessimism

GBP/USD is trading in the low 1.2700s, close to the lowest since January. UK PM May is set to present a new plan after cross-party talks failed and as calls for her to quit mount.


USD/JPY off multi-day tops, looks to test 110.00 ahead of Fedspeak

Japanese growth optimism in play as risk-on fades amid looming US-China trade risks. Eyes on risk sentiment, trade developments and Fed speak for fresh directives.


Gold aims to revisit 9-month old support-line near $1272

Gold is on its third negative trading day as it seesaws near $1276.50 ahead of the European open on Monday. Pessimism surrounding the US-China and the US-Iran relations could limit the bullion’s decline near trend-line support.

Gold News

Cryptos stage a Sunday surge, levels to watch – Confluence Detector

Cryptocurrencies have enjoyed a massive comeback early on Sunday, recovering most losses. The cleanup seen ahead of the weekend may be over, and it is time to look up to higher levels. Here are the levels to watch according to the Confluence Detector.

Read more