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.

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

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Editors’ Picks

EUR/USD stable around 1.1300 as markets look calmer

EUR/USD continues trading around 1.1300, marginally higher on the day. Markets are calmer after the sell-off and this helps the euro stabilize and it ignored weak German GfK consumer confidence. Brexit headlines are eyed.

EUR/USD News

GBP/USD moves up after Parliament takes control

GBP/USD is holding above 1.3200 after Parliament approved holding indicative votes. The non-binding votes may put pressure on May to change tack on Brexit or may push Brexiteers to support her deal.

GBP/USD News

USD/JPY sticks to modest gains above 110.00 handle, but lacks follow-through

The USD/JPY pair regained some positive traction on Tuesday, albeit continued with its struggle to build on the momentum further beyond the 110.25 region.

USD/JPY News

Crypto News

majors

Editors’ Picks

EUR/USD stable around 1.1300 as markets look calmer

EUR/USD continues trading around 1.1300, marginally higher on the day. Markets are calmer after the sell-off and this helps the euro stabilize and it ignored weak German GfK consumer confidence. Brexit headlines are eyed.

EUR/USD News

GBP/USD moves up after Parliament takes control

GBP/USD is holding above 1.3200 after Parliament approved holding indicative votes. The non-binding votes may put pressure on May to change tack on Brexit or may push Brexiteers to support her deal.

GBP/USD News

USD/JPY sticks to modest gains above 110.00 handle, but lacks follow-through

The USD/JPY pair regained some positive traction on Tuesday, albeit continued with its struggle to build on the momentum further beyond the 110.25 region.

USD/JPY News

What currencies to buy on a US recession after the yield curve inversion?

Bond markets tend to give signals for the future. In the past, when the 3-month US Treasury yield became higher than the benchmark 10-year yield, it was an initial sign of a recession.

Read full report

US Conference Board Consumer Confidence Preview: Is sentiment enough?

The Consumer Confidence Index from the non-profit business group the Conference Board is projected to rise to 132.0 in March from 131.4 in February. 

Read full report

signatures


  •  
  •  
  •  
  •  
  •