USD/CAD Technical Analysis: Immediate descending trendline drags the quote toward 1.3235/40

USD/CAD presently trades near 1.3310 during early Friday.
Ever since the quote reversed from 1.3465/70 late last week, it follows a downward sloping trend-line, at 1.3360 now.
Unless the pair breaks 1.3360, sellers can aim for 1.3285 and 1.3240/35 area that includes February-end highs.
Given the bears’ refrain from respecting 1.3235, 1.3180, 1.3150 and 1.3110 could appear on their radar to target.
If at all prices break 1.3360 upside barrier, buyers can aim for 1.3390 ahead of confronting the 1.3465/70 region for one more time.
Additionally, 1.3500, 1.3550 and 1.3575 are likely following numbers that can please bulls past-1.3470.

Anil Panchal FXStreet

USD/CAD 4-Hour chart

Additional important levels:

Overview:
    Today Last Price: 1.3309
    Today Daily change: -25 pips
    Today Daily change %: -0.19%
    Today Daily Open: 1.3334
Trends:
    Daily SMA20: 1.3278
    Daily SMA50: 1.3264
    Daily SMA100: 1.33
    Daily SMA200: 1.3185
Levels:
    Previous Daily High: 1.3349
    Previous Daily Low: 1.3287
    Previous Weekly High: 1.3469
    Previous Weekly Low: 1.3275
    Previous Monthly High: 1.3341
    Previous Monthly Low: 1.3069
    Daily Fibonacci 38.2%: 1.3325
    Daily Fibonacci 61.8%: 1.331
    Daily Pivot Point S1: 1.3298
    Daily Pivot Point S2: 1.3261
    Daily Pivot Point S3: 1.3236
    Daily Pivot Point R1: 1.336
    Daily Pivot Point R2: 1.3385
    Daily Pivot Point R3: 1.3422

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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