- USD/CAD remains under pressure below key support-turned-resistance.
- The 23.6% Fibonacci retracement, September low become likely nearby supports to watch.
Following its downside break of near-term key support line, USD/CAD declines to 1.3197during early Asian session on Monday.
The pair now aims to visit 23.6% Fibonacci retracement level of May-July south-run, at 1.3145 whereas September month low close to 1.3130 could please sellers afterward.
It should, however, be noted that the 14-bar Relative Strength Index (RSI) might drop to oversold territory during further declines and could lure counter-trend traders around 1.3130.
On the contrary, pair’s daily closing beyond support-turned-resistance, at 1.3215 now, can trigger fresh pullback to 100-day Simple Moving Average (SMA) level near 1.3240.
However, 50% Fibonacci retracement and 200-day SMA becomes a tough barrier around 1.3285/90 for buyers to confront, which if broken could escalate the recovery to monthly tops surrounding 1.3350.
USD/CAD daily chart
additional important levels
|Today last price||1.32|
|Today Daily Change||0.0000|
|Today Daily Change %||0.00|
|Today daily open||1.32|
|Previous Daily High||1.3302|
|Previous Daily Low||1.317|
|Previous Weekly High||1.3348|
|Previous Weekly Low||1.317|
|Previous Monthly High||1.3384|
|Previous Monthly Low||1.3134|
|Daily Fibonacci 38.2%||1.3221|
|Daily Fibonacci 61.8%||1.3251|
|Daily Pivot Point S1||1.3147|
|Daily Pivot Point S2||1.3093|
|Daily Pivot Point S3||1.3016|
|Daily Pivot Point R1||1.3278|
|Daily Pivot Point R2||1.3355|
|Daily Pivot Point R3||1.3409|
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