USD/CAD Technical Analysis: Greenback jumps near 1.3500 against CAD on dovish BoC

Flavio Tosti Independent Analyst

USD/CAD daily chart

USD/CAD is trading in a bull trend above its 200 simple moving average (SMA) as the market is challenging the 1.3500 level.
The Bank of Canada left its target for the overnight rate at 1.75%.

USD/CAD 4-hour chart

USD/CAD bulls want a daily close above 1.3500 figure. The next resistances to the upside are seen at 1.3570 and 1.3650 level.
Support is at 1.3460/40 and 1.3370 level.

Additional key levels

USD/CAD

Overview
Today last price	1.3508
Today Daily Change	0.0086
Today Daily Change %	0.64
Today daily open	1.3422

Trends
Daily SMA20	1.3359
Daily SMA50	1.3323
Daily SMA100	1.3346
Daily SMA200	1.3213

Levels
Previous Daily High	1.3444
Previous Daily Low	1.3342
Previous Weekly High	1.3404
Previous Weekly Low	1.3274
Previous Monthly High	1.3469
Previous Monthly Low	1.313
Daily Fibonacci 38.2%	1.3405
Daily Fibonacci 61.8%	1.3381
Daily Pivot Point S1	1.3362
Daily Pivot Point S2	1.3302
Daily Pivot Point S3	1.326
Daily Pivot Point R1	1.3462
Daily Pivot Point R2	1.3504
Daily Pivot Point R3	1.3564

Author

Flavio Tosti

Independent Analyst

AUD/USD edges higher as hot CPI inflation and hawkish RBA lift rate hike bets

The AUD/USD pair gathers strength to near 0.7035 during the Asian trading hours on Friday. The Australian Dollar edges higher against the US Dollar as hotter Australian CPI inflation data has bolstered expectations of Reserve Bank of Australia rate hikes.

USD/JPY meets support near 157.00

USD/JPY retreats for the third consecutive day on Friday, revisiting the 157.00 region before attempting some recovery as investors continue to assess the latest BoJ meeting, where the central bank left rates unchanged, as widely anticipated.

Gold sinks to fresh yearly lows despite risk-off mood as Fed rate hike bets weigh

Gold slips to fresh year-to-date lows on Friday. The metal struggles despite a risk-off mood across markets, as expectations of further Federal Reserve (Fed) interest rate hikes continue to dominate price action, leaving Gold on track to end the month in negative territory.

Ripple Price Forecast: XRP bulls defend $1.20 as sell-side pressure triggers liquidations

Ripple (XRP) trades around $1.25 on Friday, rising from a short-term support level established at $1.20. This minor upward correction follows a sharp sell-off, triggered amid reports of a hack attack on the Binance exchange that impacted approximately $6.3 billion. The attack drove the broader crypto market on edge, as Binance suspended both deposits and withdrawals to contain the situation.

BoJ recap: A pause for now... but Japan has entered a new inflation phase

The Bank of Japan left its short-term policy rate unchanged at 1.25% but delivered a distinctly hawkish message on the risk of an inflation overshoot. The decision passed by 8-1, with board member Takata dissenting in favour of an increase to 1.5%, while Governor Kazuo Ueda stressed that the Bank would continue adjusting policy as needed.

The 2% inflation target came from a throwaway remark. It now moves trillions

The Federal Reserve's 2% inflation goal grew out of an off-the-cuff remark by a New Zealand politician in 1988. Bond investors still price long-term US debt as if 2% holds, so a change in how the Fed measures inflation would move markets.