USD/CAD Technical Analysis: Greenback surges past 1.3160 level post-FOMC

USD/CAD is trading in a bull trend above its 200-period simple moving average (SMA) following the FOMC statement.
USD/CAD jumped almost a 100 pips following the FOMC statement and broke to a new monthly high.
USD/CAD is now less than 30 pips away from the 1.3200 level and there seems to be little in the way for the level to be reached.

Flavio Tosti Independent Analyst

USD/CAD-hour chart

Main trend: Bullish

Resistance 1: 1.3200 figure
Resistance 2: 1.3300 figure
Resistance 3: 1.3400 figure

Support 1: 1.3161 October 26 high
Support 2: 1.3108, September 7 low
Support 3: 1.3083 September 27 swing high
Support 4: 1.3053 October 15 high
Support 5: 1.3000 figure
Support 6: 1.2950-59 multi-month key level and August 7 low

Additional key levels at a glance:

USD/CAD

Overview:
    Last Price: 1.3182
    Daily change: 69 pips
    Daily change: 0.526%
    Daily Open: 1.3113
Trends:
    Daily SMA20: 1.3078
    Daily SMA50: 1.3027
    Daily SMA100: 1.3074
    Daily SMA200: 1.2938
Levels:
    Daily High: 1.316
    Daily Low: 1.3056
    Weekly High: 1.3172
    Weekly Low: 1.3048
    Monthly High: 1.3172
    Monthly Low: 1.2783
    Daily Fibonacci 38.2%: 1.3096
    Daily Fibonacci 61.8%: 1.312
    Daily Pivot Point S1: 1.306
    Daily Pivot Point S2: 1.3006
    Daily Pivot Point S3: 1.2956
    Daily Pivot Point R1: 1.3163
    Daily Pivot Point R2: 1.3213
    Daily Pivot Point R3: 1.3266

Author

Flavio Tosti

Independent Analyst

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.