USD/CAD Technical analysis: Challenging the 1.3100 figure on disappointing Canadian Retail Sales

USD/CAD is up on the day as Canadian Retail Sales disapppoint.
On a recovery scenario, the levels to beat for buyers are at 1.3100 and 1.3150

Flavio Tosti Independent Analyst

USD/CAD daily chart

USD/CAD is waveringe near multi-month lows as the market is currently capped below the 1.3100 handle and the main daily simple moving averages (DSMAs). The Canadian Retail Sales in May came below expecation at -0.1% vs. 0.3% forecast, sending the CAD down.

USD/CAD 4-hour chart

USD/CAD is trading just below 1.3080 resistance as the market is challenging the descending 100 SMA.

USD/CAD 30-minute chart

USD/CAD is trading above its main SMAs suggesting bullish momentum in the near term. The market is currently rejecting 1.3100 and 1.3080 resistances suggesting a potential correction down. Support are seen at 1.3050 and 1.3015, according to the Technical Confluences Indicator.

Additional key levels

USD/CAD

Overview
Today last price	1.3081
Today Daily Change	0.0053
Today Daily Change %	0.41
Today daily open	1.3028

Trends
Daily SMA20	1.3097
Daily SMA50	1.3282
Daily SMA100	1.3333
Daily SMA200	1.3301

Levels
Previous Daily High	1.3096
Previous Daily Low	1.3026
Previous Weekly High	1.3144
Previous Weekly Low	1.3018
Previous Monthly High	1.3529
Previous Monthly Low	1.306
Daily Fibonacci 38.2%	1.3052
Daily Fibonacci 61.8%	1.3069
Daily Pivot Point S1	1.3004
Daily Pivot Point S2	1.298
Daily Pivot Point S3	1.2934
Daily Pivot Point R1	1.3074
Daily Pivot Point R2	1.312
Daily Pivot Point R3	1.3145

Author

Flavio Tosti

Independent Analyst

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.