USD/CAD Technical Analysis: Trapped in 1.33-1.34 range for 13th straight day


USD/CAD is currently trading at 1.3348, having faced rejection at 1.34 yesterday. 

The currency has been restricted to a narrow range of 1.33-1.34 since April 4. Further, the daily chart shows, the USD/CAD pair has created a narrowing price range over the last six weeks.

Daily chart

  • As of writing, the range resistance is seen at 1.3434 and the lower edge if located at 1.3297.
  • A daily close above 1.3435 could yield a rally to the psychological resistance of 1.35. The case for a test of supply around 1.35, however, would weaken if the spot struggles to clear the hurdle at 1.3467 (March 7 high).
  • A range breakdown would shift risk in favor of a drop to 1.3412 (50-week moving average).

Trend: Neutral while trapped in a contracting triangle

USD/CAD

Overview
Today last price 1.3348
Today Daily Change -0.0004
Today Daily Change % -0.03
Today daily open 1.3352
 
Trends
Daily SMA20 1.336
Daily SMA50 1.3312
Daily SMA100 1.334
Daily SMA200 1.3208
Levels
Previous Daily High 1.3404
Previous Daily Low 1.3346
Previous Weekly High 1.3398
Previous Weekly Low 1.3284
Previous Monthly High 1.3469
Previous Monthly Low 1.313
Daily Fibonacci 38.2% 1.3368
Daily Fibonacci 61.8% 1.3382
Daily Pivot Point S1 1.3331
Daily Pivot Point S2 1.331
Daily Pivot Point S3 1.3274
Daily Pivot Point R1 1.3388
Daily Pivot Point R2 1.3424
Daily Pivot Point R3 1.3445

 

 

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

Latest Forex News

Editors’ Picks

EUR/USD falls below 1.1250 as US retail sales beat expectations

EUR/USD is trading below 1.1250, extending its slide. US retail sales beat expectations with the control group rising by 0.5% in May on top of upward revisions. US-Sino trade tensions are in play.

EUR/USD News

GBP/USD falls towards 1.2600 after US retail sales

GBP/USD is trading closer to 1.2600, around the weekly lows. US retail sales beat expectations and trade tensions also boost the USD. The UK is bracing for Boris Johnson to become PM. US consumer confidence is next.

GBP/USD News

USD/JPY climbs to mid-108s as 10-year US T-bond yield erases losses

Today's upbeat macroeconomic data releases from the United States provided a boost to the greenback and allowed the USD/JPY pair to advance to a session top of 108.50.

USD/JPY News

Gold surges through $1350 level, highest since April 2018

Gold caught some aggressive bids in the last hour and surged to the highest level since April 2018, around the $1358 region.

Gold News

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Alone in the dark of outer space...heading to the Moon

It is almost usual practice of the Crypto market that technical extremes occur at the end of the working week – setting the stage for action over the weekend.

Read more

Majors

Cryptocurrencies

Signatures