USD/CAD technical analysis: Retracing down towards 1.3500 post-Canadian GDP


  • The Canadian Gross Domestic Product (GDP) in the first quarter came in below expectations at 0.4% vs. 0.7% forecast. 
  • Can bulls pull away from the 1.3500 figure? 


USD/CAD daily chart

USD/CAD almost reached 1.3570 on the release of the Canadian GDP. The market is trading above its main simple moving averages (SMAs).

USD/CAD 4-hour chart


USD/CAD is currently finding little acceptance above 1.3570.


 
USD/CAD 30-minute chart

USD/CAD is trading above its main SMAs suggesting bullish momentum. However, a break below 1.3520 can lead to a deeper retracement towards 1.3500, 1.3480 and 1.3430 support. The level to beat for bulls is 1.3570. A break above it can lead to 1.3660 swing high.


Additional key levels

USD/CAD

Overview
Today last price 1.3534
Today Daily Change 0.0034
Today Daily Change % 0.25
Today daily open 1.35
 
Trends
Daily SMA20 1.3457
Daily SMA50 1.3415
Daily SMA100 1.3342
Daily SMA200 1.3264
Levels
Previous Daily High 1.3522
Previous Daily Low 1.3486
Previous Weekly High 1.3503
Previous Weekly Low 1.3357
Previous Monthly High 1.3522
Previous Monthly Low 1.3274
Daily Fibonacci 38.2% 1.3499
Daily Fibonacci 61.8% 1.3508
Daily Pivot Point S1 1.3484
Daily Pivot Point S2 1.3466
Daily Pivot Point S3 1.3447
Daily Pivot Point R1 1.352
Daily Pivot Point R2 1.3538
Daily Pivot Point R3 1.3556

 

 

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