USD/CAD Technical Analysis: Greenback bulls climbing back up and nearing the 1.3300 figure against CAD

Flavio Tosti Independent Analyst

USD/CAD daily chart

USD/CAD is trading in a bull trend above the 100 and 200-day simple moving averages (SMAs).

USD/CAD 4-hour chart

USD/CAD is trading below its main SMAs suggesting bearish momentum in the medium-term.

USD/CAD 30-minute chart

USD/CAD is currently finding resistance near the 100 SMA below the 1.3300 figure.
Bulls reclaimed the 50 SMA and will need to break 1.3300 figure in order to reach the 1.3330 and the 1.3360 levels to the upside.
Supports are seen at the 1.3270 and the 1.3240 levels.

Additional key levels

USD/CAD

Overview:
    Today Last Price: 1.3282
    Today Daily change: 56 pips
    Today Daily change %: 0.42%
    Today Daily Open: 1.3226
Trends:
    Daily SMA20: 1.3349
    Daily SMA50: 1.3379
    Daily SMA100: 1.3212
    Daily SMA200: 1.3119
Levels:
    Previous Daily High: 1.3364
    Previous Daily Low: 1.3224
    Previous Weekly High: 1.3378
    Previous Weekly Low: 1.3224
    Previous Monthly High: 1.4134
    Previous Monthly Low: 1.316
    Daily Fibonacci 38.2%: 1.3277
    Daily Fibonacci 61.8%: 1.331
    Daily Pivot Point S1: 1.3178
    Daily Pivot Point S2: 1.3131
    Daily Pivot Point S3: 1.3038
    Daily Pivot Point R1: 1.3318
    Daily Pivot Point R2: 1.3411
    Daily Pivot Point R3: 1.3458

Author

Flavio Tosti

Independent Analyst

GBP/USD bounces off lows, back above 1.3200

After bottoming out near 1.3160, GBP/USD manages to regain a bit of shine and reclaim the 1.3200 mark and beyond at the end of the week. Stronger-than-expected UK Retail Sales data seem to be helping the British Pound limit its losses, while the chaotic UK political environment keeps the bulls at bay for now.

EUR/USD looks consolidative around 1.1460

EUR/USD stages a modest rebound after slipping to a three-month low below 1.1420 at the end of the week. That said, the pair now looks to consolidate humble gains just above 1.1460 despite growing uncertainty surrounding the next round of US-Iran negotiations, which keeps the US Dollar’s downside contained.

Gold remains vulnerable, targets $4,100

Gold retreats for the fourth consecutive day on Monday, targeting the key $4,100 mark per troy ounce. The precious metal continues to face headwinds from the Fed's hawkish stance and renewed uncertainty surrounding the US-Iran negotiations.

Breaking: Iran closes the Strait of Hormuz amid ceasefire deal violation

Iran says it is closing the Strait of Hormuz after accusing the United States (US) and Israel of violating the ceasefire. According to Iran, the decision came over the continued Israeli strikes in Lebanon. The Iranian Revolutionary Guard Corps Navy issued a warning to all vessels: "Do not approach the Strait of Hormuz; otherwise, your security will be jeopardized."

The Iran war didn't break the US economy, but what happens next?

Nearly four months after the start of the Iran war, the US economy remains remarkably resilient. While the conflict initially triggered a severe disruption to global energy markets and a sharp rise in Oil prices, recent diplomatic progress between Washington and Tehran has eased concerns about a prolonged supply shock.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.