USD/CAD technical analysis: Greenback is under pressure at multi-month lows against CAD

USD/CAD is under heavy selling pressure at levels not seen since mid-July 2019.
The level to beat for bears is the 1.3040 support.

Flavio Tosti Independent Analyst

USD/CAD daily chart

USD/CAD, on the daily chart, is trading in a bear leg below the main daily simple moving averages (DMAs). The market remains under strong bearish pressure as the week is starting.

USD/CAD four-hour chart

USD/CAD is under selling pressure below its main SMAs. A downside break below the 1.3040 support can expose the 1.3000 handle.

USD/CAD 30-minute chart

USD/CAD is trading below the main SMAs, suggesting a bearish bias in the near term. Resistance is seen at 1.3084 and 1.3140, according to the Technical Confluences Indicator.

Additional key levels

USD/CAD

Overview
Today last price	1.3053
Today Daily Change	-0.0005
Today Daily Change %	-0.04
Today daily open	1.3058

Trends
Daily SMA20	1.3207
Daily SMA50	1.324
Daily SMA100	1.3212
Daily SMA200	1.3281

Levels
Previous Daily High	1.3078
Previous Daily Low	1.3052
Previous Weekly High	1.3139
Previous Weekly Low	1.3052
Previous Monthly High	1.3384
Previous Monthly Low	1.3134
Daily Fibonacci 38.2%	1.3062
Daily Fibonacci 61.8%	1.3068
Daily Pivot Point S1	1.3047
Daily Pivot Point S2	1.3036
Daily Pivot Point S3	1.302
Daily Pivot Point R1	1.3074
Daily Pivot Point R2	1.309
Daily Pivot Point R3	1.3101

Author

Flavio Tosti

Independent Analyst

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