USD/CAD Technical Analysis: Forming a holding pattern at the top just south of 1.3600

The Dollar-Loonie pairing caught some lift from the bottom in early Thursday action, rising from 1.3566 to clip just shy of 1.3600, and the pair is beginning to run in the middle again as the intraday runs out of steam.

Joshua Gibson FXStreet

USD/CAD, 5-Minute

The USD struck a new near-term high against the Loonie this week, and is setting up for a sideways holding pattern near the high side as the Greenback maintains its market position.

USD/CAD, 30-Minute

The past two months have seen the CAD give up ground to the US Dollar in one-way action, but the overextended chart pattern is likely to see buyers holding back as they wait for a pullback into the 1.3300 zone before reloading long positions on USD/CAD.

USD/CAD, 4-Hour

USD/CAD

Overview:
    Today Last Price: 1.3592
    Today Daily change: 22 pips
    Today Daily change %: 0.162%
    Today Daily Open: 1.357
Trends:
    Previous Daily SMA20: 1.3436
    Previous Daily SMA50: 1.3273
    Previous Daily SMA100: 1.3143
    Previous Daily SMA200: 1.3054
Levels:
    Previous Daily High: 1.4134
    Previous Daily Low: 1.3568
    Previous Weekly High: 1.3602
    Previous Weekly Low: 1.3372
    Previous Monthly High: 1.336
    Previous Monthly Low: 1.3048
    Previous Daily Fibonacci 38.2%: 1.3784
    Previous Daily Fibonacci 61.8%: 1.3918
    Previous Daily Pivot Point S1: 1.3381
    Previous Daily Pivot Point S2: 1.3192
    Previous Daily Pivot Point S3: 1.2816
    Previous Daily Pivot Point R1: 1.3946
    Previous Daily Pivot Point R2: 1.4322
    Previous Daily Pivot Point R3: 1.4511

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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