#USDCAD @ 1.34405 The shifted neutral-downwards, with bears capping the pair’s upside as they eye the 200-day EMA. (Pivot Orderbook analysis)
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- The USD/CAD shifted neutral-downwards, with bears capping the pair’s upside as they eye the 200-day EMA.
- USD/CAD Price Analysis: Bearish below 1.3500; otherwise, buyers could reclaim resistance levels.
The pair currently trades last at 1.34405.
The previous day high was 1.3537 while the previous day low was 1.3411. The daily 38.2% Fib levels comes at 1.3459, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.3489, expected to provide resistance.
The USD/CAD gained traction on Tuesday, barely gaining 0.06%, and formed a spinning top. As the Asian session begins, the USD/CAD is subdued, with minuscule losses of 0.02%, trading at 1.3442.
The USD/CAD shifted from neutral to neutral-downward biased, based on price action tumbling below the 50 and 100-day Exponential Moving Averages (EMAs) at 1.3571 and 1.3515. That price action opened the door for further losses, with sellers eyeing a challenge of the 200-day EMA at 1.3372. Nevertheless, a spinning top emerged, with sellers taking a respite before committing to lower prices.
If USD/CAD drops below 1.3405, the current week’s low, that would open the door to testing the 200-day EMA. A break below and USD/CAD would dive into testing the YTD low at 1.3262.
Otherwise, a rebound at the 200-day EMA will underpin the USD/CAD towards the 1.3400 area. A decisive break and the major could rally initially toward the 100 and 50-day EMAs before challenging the 20-day EMA At 1.3584. Upside risks lie at 1.3600.
Technical Levels: Supports and Resistances
USDCAD currently trading at 1.3441 at the time of writing. Pair opened at 1.3436 and is trading with a change of 0.04 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.3441 |
| 1 | Today Daily Change | 0.0005 |
| 2 | Today Daily Change % | 0.0400 |
| 3 | Today daily open | 1.3436 |
The pair is trading below its 20 Daily moving average @ 1.3686, below its 50 Daily moving average @ 1.3544 , below its 100 Daily moving average @ 1.3523 and above its 200 Daily moving average @ 1.3378
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.3686 |
| 1 | Daily SMA50 | 1.3544 |
| 2 | Daily SMA100 | 1.3523 |
| 3 | Daily SMA200 | 1.3378 |
The previous day high was 1.3537 while the previous day low was 1.3411. The daily 38.2% Fib levels comes at 1.3459, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.3489, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.3386, 1.3336, 1.3261
- Pivot resistance is noted at 1.3512, 1.3587, 1.3637
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.3537 |
| Previous Daily Low | 1.3411 |
| Previous Weekly High | 1.3745 |
| Previous Weekly Low | 1.3508 |
| Previous Monthly High | 1.3862 |
| Previous Monthly Low | 1.3508 |
| Daily Fibonacci 38.2% | 1.3459 |
| Daily Fibonacci 61.8% | 1.3489 |
| Daily Pivot Point S1 | 1.3386 |
| Daily Pivot Point S2 | 1.3336 |
| Daily Pivot Point S3 | 1.3261 |
| Daily Pivot Point R1 | 1.3512 |
| Daily Pivot Point R2 | 1.3587 |
| Daily Pivot Point R3 | 1.3637 |
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