The decline of USDCAD at 1.35237 slows down as it encounters support at 1.3489, slightly above the 200-day Moving Average. The currency pair then rises by 0.14%.
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- USD/CAD stalls its downtrend, finding support at 1.3489, just above the 200-day Moving Average, and trades 0.14% higher.
The pair currently trades last at 1.35237.
The previous day high was 1.3557 while the previous day low was 1.3493. The daily 38.2% Fib levels comes at 1.3518, expected to provide support. Similarly, the daily 61.8% fib level is at 1.3532, expected to provide resistance.
The USD/CAD downtrend stalls after the US Dollar found its footing, trimming some of its previous losses against the Loonie. Support emerged at around 1.3489, cushioning the pair’s fall and the 200-day Moving Average (DMA) sitting below that level. As of writing, the currency pair exchanges hands at 1.3527, up 0.14%.
From a daily chart perspective, the pair remains upward-biased despite the recent retracement. Sellers failed to drag prices below the September 1 swing low of 1.3489, which could exacerbate a leg up, and the USD/CAD could resume its uptrend in the short term. Hence, the first resistance would be the 1.3550 area, followed by the confluence of the September 12 and 13 highs at around 1.3580/90, immediately followed by the 1.3600 psychological level.
Contrarily, a bearish resumption would happen if the USD/CAD slumps below 1.3489, which could trigger a break in the market structure and expose the 200-DMA at 1.3463. A breach of the latter would expose the 50-DMA at 1.3413, followed by the July 7 daily high turned support at 1.3387.
Technical Levels: Supports and Resistances
USDCAD currently trading at 1.3528 at the time of writing. Pair opened at 1.3508 and is trading with a change of 0.15 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.3528 |
| 1 | Today Daily Change | 0.0020 |
| 2 | Today Daily Change % | 0.1500 |
| 3 | Today daily open | 1.3508 |
The pair is trading below its 20 Daily moving average @ 1.3576, above its 50 Daily moving average @ 1.3409 , above its 100 Daily moving average @ 1.3403 and above its 200 Daily moving average @ 1.3466
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.3576 |
| 1 | Daily SMA50 | 1.3409 |
| 2 | Daily SMA100 | 1.3403 |
| 3 | Daily SMA200 | 1.3466 |
The previous day high was 1.3557 while the previous day low was 1.3493. The daily 38.2% Fib levels comes at 1.3518, expected to provide support. Similarly, the daily 61.8% fib level is at 1.3532, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.3482, 1.3456, 1.3419
- Pivot resistance is noted at 1.3546, 1.3583, 1.3609
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.3557 |
| Previous Daily Low | 1.3493 |
| Previous Weekly High | 1.3694 |
| Previous Weekly Low | 1.3576 |
| Previous Monthly High | 1.3640 |
| Previous Monthly Low | 1.3184 |
| Daily Fibonacci 38.2% | 1.3518 |
| Daily Fibonacci 61.8% | 1.3532 |
| Daily Pivot Point S1 | 1.3482 |
| Daily Pivot Point S2 | 1.3456 |
| Daily Pivot Point S3 | 1.3419 |
| Daily Pivot Point R1 | 1.3546 |
| Daily Pivot Point R2 | 1.3583 |
| Daily Pivot Point R3 | 1.3609 |
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