USD/CAD Technical Analysis: DXY bulls en route to the 1.3300 figure against CAD

Flavio Tosti Independent Analyst

USD/CAD daily chart

USD/CAD is trading in a bull trend above the 200 SMA.
USD/CAD is consolidating the recent losses above 1.3200 and the 100 SMA.
Earlier this Friday, the US CPI (Consumer Producer Index) matched analysts expectations at 2.2% for December y/y.

USD/CAD 4-hour chart

USD/CAD is trading below its main SMAs.

USD/CAD 30-minute chart

USD/CAD bulls are gaining ground as they reclaimed the main SMAs. They are now most likely en route to the 1.3300 figure and 1.3360 level if they gather enough steam.

Additional key levels

USD/CAD

Overview:
    Today Last Price: 1.327
    Today Daily change: 33 pips
    Today Daily change %: 0.249%
    Today Daily Open: 1.3237
Trends:
    Previous Daily SMA20: 1.3509
    Previous Daily SMA50: 1.3353
    Previous Daily SMA100: 1.3185
    Previous Daily SMA200: 1.3084
Levels:
    Previous Daily High: 1.326
    Previous Daily Low: 1.3202
    Previous Weekly High: 1.3666
    Previous Weekly Low: 1.338
    Previous Monthly High: 1.4134
    Previous Monthly Low: 1.316
    Previous Daily Fibonacci 38.2%: 1.3238
    Previous Daily Fibonacci 61.8%: 1.3224
    Previous Daily Pivot Point S1: 1.3205
    Previous Daily Pivot Point S2: 1.3174
    Previous Daily Pivot Point S3: 1.3146
    Previous Daily Pivot Point R1: 1.3264
    Previous Daily Pivot Point R2: 1.3292
    Previous Daily Pivot Point R3: 1.3323

Author

Flavio Tosti

Independent Analyst

EUR/USD holds losses below 1.1650 on renewed USD uptick

EUR/USD is off the low but remains in the red below 1.1650 in European trading on Thursday. The pair faces headwinds from a renewed uptick in the US Dollar amid a negative shift in risk sentiment. Surging energy prices due to the Middle East war keep the bearish pressure intact on the Euro. The US Jobless Claims data are next of note.

GBP/USD stays weak near 1.3350 amid UK stagflation risks

GBP/USD sticks to losses near 1.3350 in the European session on Thursday. The Pound Sterling loses ground amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, while the US Dollar attracts fresh havem demand ahead of the US Jobless Claims data.

Gold climbs near $5,200 as Iran war fuels safe-haven demand

Gold price extends its gains for the second successive session on Thursday as traders seek safety amid the ongoing war in the Middle East. US and Israeli strikes across Iranian territory and widespread Iranian missile and drone retaliation across the Middle East, including attacks on regional targets and military sites, prolong the crisis and its impact.

Three reasons to be bearish on Bitcoin

Bitcoin is holding up well taking into account the uncertainty stemming from the Middle East. Despite this week’s rally, the long-term outlook remains bearish. Here are three reasons why I think the storm for the largest cryptocurrency isn't over yet.

FX alert: When Energy still writes the macro script the Dollar holds the pen

The market is quietly sliding back into the trade nobody wanted to own, but everyone now has to respect again. The no quick off-ramp trade. Yesterday’s bounce in risk assets already looks less like a turning point and more like a classic relief rally in a market that briefly inhaled before realizing the room was still on fire.

Cardano Price Analysis: Approaches key trendline amid bearish sentiment

Cardano (ADA) price is approaching its descending trendline around $0.28 at the time of writing, set to shape the next directional move. The derivatives metrics paint a bearish picture, with ADA’s Open Interest continuing to fall and short bets rising among traders.