#USDCAD @ 1.34468 is trading sideways, though in the short term, it is tilted upwards. (Pivot Orderbook analysis)

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• USD/CAD is trading sideways, though in the short term, it is tilted upwards.
• Near-term, the USD/CAD is upward biased as an ascending triangle emerges.

The pair currently trades last at 1.34468.

The previous day high was 1.3449 while the previous day low was 1.336. The daily 38.2% Fib levels comes at 1.3415, expected to provide support. Similarly, the daily 61.8% fib level is at 1.3394, expected to provide support.

USD/CAD grinds higher during the North American session, erasing its earlier losses that witnessed the pair dropping to its low of the day at 1.3372. However, a late bounce in the New York session spurred an upward reaction, with the USD/CAD pair almost unchanged. At the time of writing, the USD/CAD exchanges hands at 1.3448.

From a daily chart perspective, the USD/CAD remains neutral to upward biased, though the intersection of several support/resistance trendlines and the presence of the 50/100/20-day Exponential Moving Averages (EMAs) around 1.3402-1.3441 keep the USD/CAD trendless.

Nevertheless, although flat, the Relative Strength Index (RSI) is in bullish territory, keeping buyers hopeful for higher prices. On the other hand, the Rate of Change (RoC) suggests the USD/CAD might consolidate further, as it sits almost flat.

Upwards, the USD/CAD needs to clear the weekly high at 1.3475, which, once cleared, will exacerbate a leg-up toward 1.3500. on the flip side, the USD/CAD needs to break 1.3359, the weekly low, to challenge the psychological 1.3300 figure.

Short term, the USD/CAD one-hour chart suggests the pair as neutral-upwards. An ascendant triangle has formed, which, once cleared, the USD/CAD might rally towards its measured target objective at 1.3560/70.

Technical Levels: Supports and Resistances

USDCAD currently trading at 1.3445 at the time of writing. Pair opened at 1.3447 and is trading with a change of -0.01 % .

The pair is trading above its 20 Daily moving average @ 1.3383, below its 50 Daily moving average @ 1.3494 , below its 100 Daily moving average @ 1.3536 and above its 200 Daily moving average @ 1.3231

The previous day high was 1.3449 while the previous day low was 1.336. The daily 38.2% Fib levels comes at 1.3415, expected to provide support. Similarly, the daily 61.8% fib level is at 1.3394, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 1.3389, 1.333, 1.33
• Pivot resistance is noted at 1.3478, 1.3508, 1.3567

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