USD/CAD technical analysis: Greenback slips below last week low approaching the 1.3100 handle

USD/CAD is under pressure approaching the 1.3100 figure.
Bears need a breakout below last week low at 1.3150 support.

Flavio Tosti Independent Analyst

USD/CAD daily chart

USD/CAD is breaking below last week low while below the main daily simple moving averages (DSMAs).

USD/CAD 4-hour chart

USD/CAD is under pressure below the main SMAs. Sellers want to reach 1.3084 swing low.

USD/CAD 30-minute chart

The market is trading below its main SMAs suggesting a negative bias. Resistances are seen at 1.3120 and 1.3150, according to the Technical Confluences Indicator.

Additional key levels

USD/CAD

Overview
Today last price	1.3115
Today Daily Change	-0.0055
Today Daily Change %	-0.42
Today daily open	1.317

Trends
Daily SMA20	1.3344
Daily SMA50	1.3402
Daily SMA100	1.3357
Daily SMA200	1.3289

Levels
Previous Daily High	1.3209
Previous Daily Low	1.3152
Previous Weekly High	1.3434
Previous Weekly Low	1.3151
Previous Monthly High	1.3566
Previous Monthly Low	1.3357
Daily Fibonacci 38.2%	1.3174
Daily Fibonacci 61.8%	1.3187
Daily Pivot Point S1	1.3146
Daily Pivot Point S2	1.3121
Daily Pivot Point S3	1.309
Daily Pivot Point R1	1.3202
Daily Pivot Point R2	1.3233
Daily Pivot Point R3	1.3258

Author

Flavio Tosti

Independent Analyst

AUD/USD bulls regain control above 0.6950 amid USD retreat

AUD/USD regains traction and extends the previous day's bounce from the weekly low, aiming for 0.7000 in Asia on Friday. The overnight pullback in US bond yields keeps the US Dollar below an 18-month high, which in turn offers some support to the pair. Meanwhile, hawkish RBA expectations also keep the major underpinned.

USD/JPY holds gains near 158.00 after Japan's weak Household Spending data

USD/JPY clings to gains around 158.00 after data showed on Friday that Japan's Household Spending fell for the ninth straight month, undermining the Japanese Yen. Meanwhile, the US Dollar remains depressed as the overnight fall in US bond yields counters a hawkish Fed and geopolitical uncertainties, could cap any downside in the pair.

Gold remains range-bound below $4,200

Gold has given up some ground after an initial bullish attempt to reach weekly highs, returning to below the $4,200 mark per troy ounce on Friday. The US Dollar’s strong upside momentum, combined with rising US Treasury yields across the curve, seems to keep further gains in the yellow metal under scrutiny.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?

The Euro is not the sick man of Europe. France's bond market is

EUR/USD remains under pressure, near the 17-month low of 1.1161 reached on Monday. The pair has lost more than 7% since its yearly peak, as concerns over France's public finances increasingly weigh on the single currency. But behind the weakness of the Euro (EUR), the problem does not necessarily lie with the European economy as a whole.