#USDCAD @ 1.38177 remains sidelined while snapping three-day uptrend inside an immediate symmetrical triangle., @nehcap view: Sideways (Pivot Orderbook analysis)
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- USD/CAD remains sidelined while snapping three-day uptrend inside an immediate symmetrical triangle.
- Sustained trading beyond the key moving averages, steady RSI favor buyers.
- Two-week-old resistance adds to the upside filters on the way to early 2020 levels.
The pair currently trades last at 1.38177.
The previous day high was 1.3831 while the previous day low was 1.376. The daily 38.2% Fib levels comes at 1.3804, expected to provide support. Similarly, the daily 61.8% fib level is at 1.3787, expected to provide support.
USD/CAD treads water around 1.3800 while staying inside a four-day-old symmetrical triangle during Thursday’s Asian session. Even so, firmer RSI and the Loonie pair’s ability to stay beyond the key moving averages keep the buyers hopeful.
That said, the aforementioned triangle restricts the nearby USD/CAD moves between 1.3825 and 1.3785.
Also acting as the short-term trading filters is the 100-HMA and an upward-sloping resistance line from September 28, respectively near 1.3770 and 1.3855.
Given the increased optimism about the USD/CAD pair’s upside momentum, coupled with the multiple failures to cross the stated trend line hurdle, a clear break of 1.3855 won’t hesitate to challenge the 1.4000 psychological magnet. In doing so, the quote will aim for the levels marked during May 2020.
Alternatively, a downside break of the 1.3770 HMA support won’t be a warm welcome for the sellers as the 200-HMA level of 1.3708 will act as the last defense for the USD/CAD buyers.
Trend: Sideways
Technical Levels: Supports and Resistances
USDCAD currently trading at 1.3812 at the time of writing. Pair opened at 1.3816 and is trading with a change of -0.03% % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.3812 |
| 1 | Today Daily Change | -0.0004 |
| 2 | Today Daily Change % | -0.03% |
| 3 | Today daily open | 1.3816 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 1.3593, 50 SMA 1.3233, 100 SMA @ 1.3046 and 200 SMA @ 1.287.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.3593 |
| 1 | Daily SMA50 | 1.3233 |
| 2 | Daily SMA100 | 1.3046 |
| 3 | Daily SMA200 | 1.2870 |
The previous day high was 1.3831 while the previous day low was 1.376. The daily 38.2% Fib levels comes at 1.3804, expected to provide support. Similarly, the daily 61.8% fib level is at 1.3787, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 1.3773, 1.3731, 1.3703
- Pivot resistance is noted at 1.3844, 1.3873, 1.3915
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.3831 |
| Previous Daily Low | 1.3760 |
| Previous Weekly High | 1.3827 |
| Previous Weekly Low | 1.3503 |
| Previous Monthly High | 1.3838 |
| Previous Monthly Low | 1.2954 |
| Daily Fibonacci 38.2% | 1.3804 |
| Daily Fibonacci 61.8% | 1.3787 |
| Daily Pivot Point S1 | 1.3773 |
| Daily Pivot Point S2 | 1.3731 |
| Daily Pivot Point S3 | 1.3703 |
| Daily Pivot Point R1 | 1.3844 |
| Daily Pivot Point R2 | 1.3873 |
| Daily Pivot Point R3 | 1.3915 |
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