USD/CAD Technical Analysis: Firmer beyond key falling trendline, 23.6% Fibonacci

USD/CAD stays firm beyond the previous resistance confluence (now key support).
Price positive RSI conditions indicate further run-up.
200-day SMA offers additional support.

Anil Panchal FXStreet

USD/CAD takes the bids to 1.3305 during early Tuesday. In doing so, the quote remains beyond a three-month-old falling trend line and 23.6% Fibonacci retracement of July-September upside.

Prices are now heading towards the previous month top close to 1.3330 whereas highs marked in October and September months, around 1.3350 and 1.3385 respectively, could please buyers next.

It’s worth mentioning that the 14-day Relative Strength Index (RSI) stays firmer and supports the on-going price momentum to the north.

Meanwhile, pair’s declines below 1.3300/3295 support confluence shifts focus to 200-day Simple Moving Average (SMA) level of 1.3280 while 21-day SMA near 1.3255 might return to charts then after.

USD/CAD daily chart

Trend: Bullish

additional important levels

Overview
Today last price	1.3304
Today Daily Change	6 pips
Today Daily Change %	0.05%
Today daily open	1.3298

Trends
Daily SMA20	1.3251
Daily SMA50	1.3219
Daily SMA100	1.3223
Daily SMA200	1.3279

Levels
Previous Daily High	1.3308
Previous Daily Low	1.3273
Previous Weekly High	1.332
Previous Weekly Low	1.3234
Previous Monthly High	1.3328
Previous Monthly Low	1.3114
Daily Fibonacci 38.2%	1.3294
Daily Fibonacci 61.8%	1.3286
Daily Pivot Point S1	1.3278
Daily Pivot Point S2	1.3258
Daily Pivot Point S3	1.3244
Daily Pivot Point R1	1.3313
Daily Pivot Point R2	1.3328
Daily Pivot Point R3	1.3348

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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