The USDCAD currency pair remains relatively stable at 1.3510 as the Asian trading session starts, even though the US Dollar has strengthened against most major G10 currencies.

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• USD/CAD trades nearly flat at 1.3510 as the Asian session begins, despite the US Dollar gaining against most G10 currencies.

The pair currently trades last at 1.35070.

The previous day high was 1.3577 while the previous day low was 1.3513. The daily 38.2% Fib levels comes at 1.3537, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.3553, expected to provide resistance.

The Canadian Dollar (CAD) remains in charge against the US Dollar (USD) even though the latter appreciated against most G10 FX currencies across the board. However, falling US Treasury bond yields and a jump in oil prices benefitted the CAD. Hence, the USD/CAD is trading at 1.3510, almost flat as the Asian session commences.

From a daily chart perspective, the USD/CAD remains neutral to upward biased, as the pair is still above the latest higher low achieved on August 21 at 1.3496, but at the brisk of breaking an uptrend market structure, that would expose the 200-day Moving Average (DMA) at 1.3461. Nevertheless, sellers must achieve a daily close below 1.3496 to remain hopeful of achieving lower lows, as the 50-DMA slope is trending up.

From an intraday standpoint, the pair broke below the August 24 daily ow of 1.3509, putting in play the 1.3500 figure. But one of the latest three candlesticks of August 31 price action drawing a larger wick on the bottom of the body suggests buyers entering the market around the 1.3500 area. Nevertheless, the USD/CAD is downward biased. First support emerges at 1.350, followed by the S1 daily pivot at 1.3488. A breach of the latter will expose the S2 pivot point at 1.3469 before diving to 1.3450. On the flip side, the first resistance would be the daily pivot point at 1.3523, followed by the 50-hour Moving Average (HMA) at 1.3540, before reaching the R1 pivot.

Technical Levels: Supports and Resistances

USDCAD currently trading at 1.3511 at the time of writing. Pair opened at 1.3532 and is trading with a change of -0.16 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 1.3495, 50 SMA 1.3331, 100 SMA @ 1.3392 and 200 SMA @ 1.3462.

The previous day high was 1.3577 while the previous day low was 1.3513. The daily 38.2% Fib levels comes at 1.3537, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1.3553, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 1.3505, 1.3477, 1.3441
• Pivot resistance is noted at 1.3569, 1.3605, 1.3632

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