USD/CAD Technical Analysis: Greenback is spiking to fresh November highs ahead of FOMC

USD/CAD is spiking to new monthly highs above the 1.3300 handle ahead of the FOMC minutes.
The level to beat for bulls is the 1.3310/1.3331 resistance zone .

Flavio Tosti Independent Analyst

USD/CAD daily chart

The loonie on the daily chart is spiking up above the 1.3300 handle above the main daily simple moving averages (DMAs). The FOMC minutes will be released at 19:00 GMT this Wednesday.

USD/CAD four-hour chart

USD/CAD is challenging the 1.3310/1.3331 resistance zone (near the October high) while trading above the main SMAs. A break above the October highs can lead to further strength towards the 1.3352 and 1.3435 levels, according to the Technical Confluences Indicator.

USD/CAD 30-minute chart

USD/CAD is trading above its main SMAs, suggesting a bullish momentum in the near term. Support is seen at the 1.3276 and 1.3240 price zone, according to the Technical Confluences Indicator.

Additional key levels

USD/CAD

Overview
Today last price	1.3319
Today Daily Change	0.0048
Today Daily Change %	0.36
Today daily open	1.3271

Trends
Daily SMA20	1.3169
Daily SMA50	1.3212
Daily SMA100	1.3203
Daily SMA200	1.3276

Levels
Previous Daily High	1.3274
Previous Daily Low	1.3156
Previous Weekly High	1.3272
Previous Weekly Low	1.3212
Previous Monthly High	1.3349
Previous Monthly Low	1.3042
Daily Fibonacci 38.2%	1.3228
Daily Fibonacci 61.8%	1.3201
Daily Pivot Point S1	1.3193
Daily Pivot Point S2	1.3115
Daily Pivot Point S3	1.3075
Daily Pivot Point R1	1.3311
Daily Pivot Point R2	1.3351
Daily Pivot Point R3	1.3429

Author

Flavio Tosti

Independent Analyst

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