USD/CAD Technical Analysis: Struggles between 100/200-day EMA


  • USD/CAD struggles for direction inside key EMAs.
  • Bullish MACD keeps buyers hopeful to challenge 61.8% Fibonacci retracement.
  • 1.3175/70 becomes an important support confluence.

Despite rising to the mid-October highs, USD/CAD fails to extend its run-up beyond 200-day EMA as it trades near 1.3225 during the Asian session on Monday.

While bullish signals from 12-bar Moving Average Convergence and Divergence (MACD) portrays the strength of upside momentum, sellers seek a daily closing below 100-day Exponential Moving Average (EMA) level of 1.3220 to aim for 1.3200 round-figure.

However, a rising trend line since late-October and 38.2% Fibonacci retracement of September-October declines could keep the pair’s further declines limited around 1.3175/70.

On the upside, pair’s sustained trading beyond a 200-day EMA level of 1.3230 could challenge 61.8% Fibonacci retracement level of 1.3255.

In a case where bulls keep dominating past-1.3255, 1.3300 and October month top surrounding 1.3350 will become their favorites.

USD/CAD daily chart

Trend: sideways

additional important levels

Overview
Today last price 1.3228
Today Daily Change 0 pips
Today Daily Change % 0.00%
Today daily open 1.3228
 
Trends
Daily SMA20 1.3139
Daily SMA50 1.3211
Daily SMA100 1.3196
Daily SMA200 1.3276
 
Levels
Previous Daily High 1.3238
Previous Daily Low 1.3168
Previous Weekly High 1.3238
Previous Weekly Low 1.3114
Previous Monthly High 1.3349
Previous Monthly Low 1.3042
Daily Fibonacci 38.2% 1.3211
Daily Fibonacci 61.8% 1.3195
Daily Pivot Point S1 1.3185
Daily Pivot Point S2 1.3141
Daily Pivot Point S3 1.3114
Daily Pivot Point R1 1.3256
Daily Pivot Point R2 1.3282
Daily Pivot Point R3 1.3326

 

 

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