USD/CAD Technical Analysis: USD/CAD bulls looking for a floor near 1.3000 figure

USD/CAD main bull trend is currently on hold.
USD/CAD is consolidating the recent leg down near the 1.3000 figure and the 61.8% Fibonacci retracement level from the late August-early September bull run.
The RSI is in oversold territories, the MACD is slowly gaining some traction while the Stochastics indicator is deeply oversold. A bull breakout above 1.3048 (August 14 low) would further confirm that bulls have indeed bottomed out. Targets to the upside can be located near 1.3108 (September 7 low) and 1.3155 (June 18 low).

Flavio Tosti Independent Analyst

USD/CAD 4-hour chart

Spot rate: 1.3000
Relative change: 0.06%
High: 1.3027
Low: 1.2973

Trend: Bullish

Resistance 1: 1.3048 August 14 low
Resistance 2: 1.3108, September 7 low
Resistance 3: 1.3155 June 18 low
Resistance 4: 1.3172 August 13 swing high
Resistance 5: 1.3200 figure
Resistance 6: 1.3300 figure
Resistance 7: 1.3388, 2018 high

Support 1: 1.3000 figure
Support 2: 1.2959 August 7 swing low
Support 3: 1.2855 June 6 low

Author

Flavio Tosti

Independent Analyst

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.