USD/CAD Technical Analysis: Continues to find decent support near 100-day SMA, around 1.3300 handle

Haresh Menghani FXStreet

The pair once again showed some resilience at lower levels and managed to recover the early lost ground to the 1.3300 mark, rather has turned positive for the third consecutive session.

The mentioned support marks a descending trend-line resistance break-point and also coincides with 100-day SMA and should now act as a key pivotal point for the pair's near-term trajectory.

Technical indicators on the daily chart point to a slight positive bias but are yet to gain any meaningful traction on hourly charts and warrant caution before placing any aggressive bullish bets.

Hence, it would prudent to wait for a strong follow-through buying before traders start positioning for a move beyond the 1.3370 immediate resistance towards reclaiming the 1.3400 round figure mark.

USD/CAD daily chart

USD/CAD

Overview:
    Today Last Price: 1.3343
    Today Daily change %: 0.05%
    Today Daily Open: 1.3336
Trends:
    Daily SMA20: 1.3282
    Daily SMA50: 1.3262
    Daily SMA100: 1.3302
    Daily SMA200: 1.3187
Levels:
    Previous Daily High: 1.3374
    Previous Daily Low: 1.3289
    Previous Weekly High: 1.344
    Previous Weekly Low: 1.3287
    Previous Monthly High: 1.3341
    Previous Monthly Low: 1.3069
    Daily Fibonacci 38.2%: 1.3341
    Daily Fibonacci 61.8%: 1.3322
    Daily Pivot Point S1: 1.3292
    Daily Pivot Point S2: 1.3249
    Daily Pivot Point S3: 1.3208
    Daily Pivot Point R1: 1.3376
    Daily Pivot Point R2: 1.3417
    Daily Pivot Point R3: 1.346

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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