USD/CAD technical analysis: Clings to 50% Fibo., struggles between 21/200-DMA


  • USD/CAD seesaws near 50% Fibonacci retracement after failing to rise past-200-DMA.
  • 21-DMA offers immediate support.
  • Momentum indicators show normal conditions favoring the continuation of range-bound trading.

USD/CAD makes the rounds to 50% Fibonacci retracement as it trades near 1.3215 during early Wednesday.

The pair has been trading between the 21 and 200 day moving averages (DMA) since the month-start with the latest U-turn from 200-DMA indicating brighter chances of its pullback to 21-DMA level of 1.3177.

Momentum indicators like 14-bar relative strength index (RSI) and 12-day moving average convergence and divergence indicate normal conditions and continuation of the pair’s trading range.

If sellers refrain from respecting 1.3177 rest-point, 61.8% Fibonacci retracement of October to December 2018 upside, at 1.3120, and July month low near 1.3016 could be on their watch list.

Alternatively, pair’s rise past-1.3306 level comprising 200-DMA can take aim at early-May month low surrounding 1.3380.

USD/CAD daily chart

Trend: Sideways

Additional important levels

Overview
Today last price 1.3216
Today Daily Change -7 pips
Today Daily Change % -0.05%
Today daily open 1.3223
 
Trends
Daily SMA20 1.3175
Daily SMA50 1.3186
Daily SMA100 1.3302
Daily SMA200 1.3311
Levels
Previous Daily High 1.3294
Previous Daily Low 1.3184
Previous Weekly High 1.3345
Previous Weekly Low 1.3178
Previous Monthly High 1.3215
Previous Monthly Low 1.3016
Daily Fibonacci 38.2% 1.3227
Daily Fibonacci 61.8% 1.3252
Daily Pivot Point S1 1.3174
Daily Pivot Point S2 1.3124
Daily Pivot Point S3 1.3064
Daily Pivot Point R1 1.3284
Daily Pivot Point R2 1.3344
Daily Pivot Point R3 1.3394

 

 

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

GBP/USD off 7-month highs, still firmer as Tories hold the lead

GBP/USD retraces from the new seven-month highs of 1.3180 but remains strongly bid, as weekend polls have reaffirmed a solid lead for PM Johnson's Conservatives. Cable dropped on Friday amid upbeat US data.

GBP/USD News

EUR/USD steadying above 1.1050 amid upbeat German export data

EUR/USD is trading above 1.1050, attempting a recovery after Germany reported an increase in exports in October. EUR/UDS dropped sharply on Friday amid upbeat US Non-Farm Payrolls and weak German industrial output. 

EUR/USD News

Forex Today: US-Sino trade tensions prevail, Boris closer to victory, EUR/USD licking its wounds

Trade talks: President Donald Trump has called on the World Bank to stop lending to China, a move that may aggravate tensions, with only six days to go until Washington is set to slap new tariffs on Beijing. Negotiations continue.

Read more

Gold clings to modest gains above $1460 level, lacks follow-through

The latest NFP report surpassed most optimistic estimates, which provided a goodish intraday lift to the US dollar and eventually prompted some aggressive selling around the dollar-denominated commodity.

Gold News

USD/JPY: tensions between Washington and Beijing back the JPY

Japanese Q3 Gross Domestic Product doubled the market’s expectations, up by 0.4%. The US calendar has nothing to offer today, attention focus on Washington-Beijing relationship. USD/JPY pressuring the post-NFP low, decline to accelerate once below 108.40.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures