USD/CAD technical analysis: Greenback ends the day near its low against CAD sub-1.3400


  • USD/CAD remains bullish above its 200-day simple moving average (DSMA).
  • The level to beat for bulls is 1.3400 which is a cluster of many technical levels.

USD/CAD daily chart

USD/CAD is in a bull trend above its 100 and 200-day simple moving average (DSMA). The market found some resistance at 1.3440 and the 50 SMA. 


USD/CAD 4-hour chart

USD/CAD is currently rejecting the 1.3400 figure and the 100/200 SMAs. There is strong support at 1.3350, the 100 SMA on the daily chart and the weekly Fibonacci of 38.2%. 

USD/CAD 30-minute chart

The 50 SMA is crossing below the 100 SMA suggesting that the market is losing some bullish momentum in the near term. A break below 1.3380 weak support (weekly Fibonacci of 23.6%) can lead to a drop to 1.3350. On the flip side, resistance is at 1.3400 figure, this level is a cluster of several technical indicators according to the Technical Confluences Indicator. If broken the market could potentially break sharply up towards 1.3500 figure. 

Additional key levels

USD/CAD

Overview
Today last price 1.3381
Today Daily Change -0.0032
Today Daily Change % -0.24
Today daily open 1.3413
 
Trends
Daily SMA20 1.3407
Daily SMA50 1.3415
Daily SMA100 1.3352
Daily SMA200 1.3282
Levels
Previous Daily High 1.342
Previous Daily Low 1.3393
Previous Weekly High 1.3424
Previous Weekly Low 1.3242
Previous Monthly High 1.3566
Previous Monthly Low 1.3357
Daily Fibonacci 38.2% 1.341
Daily Fibonacci 61.8% 1.3404
Daily Pivot Point S1 1.3397
Daily Pivot Point S2 1.3382
Daily Pivot Point S3 1.337
Daily Pivot Point R1 1.3425
Daily Pivot Point R2 1.3436
Daily Pivot Point R3 1.3452

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD hits two-month lows amid USD strength

EUR/USD has pared its gains that followed upbeat preliminary PMIs for Germany came out above expectations, pointing to a recovery. The USD is advancing amid fears of the coronavirus.

EUR/USD News

GBP/USD drops below 1.31 amid USD strength, fails to sustain PMI gains

GBP/USD is trading below  1.31 after hitting a fresh high of 1.3172. The UK Manufacturing PMI beat with 49.8 and Services PMI with 52.9. The USD is gaining ground across the board.

GBP/USD News

Cryptos: Bears take over and draw a bloody moon

Despite appearances, Bitcoin is the asset with the best risk/benefit ratio. The current falls are adjusted to the ranges of the previous rise. Downward momentum expires in the first half of February.

Read more

Gold rebounds above $1560

The XAU/USD pair dropped to a daily low of $1556.70 during the European trading hours as the easing worries over coronavirus becoming a global epidemic and a broad-based USD strength put the pair under bearish pressure.

Gold News

USD/JPY drops to two-week lows near 109.30

The USD/JPY pair reversed its direction during the American trading hours as the risk-off atmosphere allowed the JPY to find demand as a safe-haven.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures