#USDCAD @ 1.33909 Canadian dollar among worst performers of the American session. (Pivot Orderbook analysis)

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• Canadian dollar among worst performers of the American session.
• USDCAD with a bullish tone, about to break 1.3400.
• Crude oil tumbles by more than 4%.

The pair currently trades last at 1.33909.

The previous day high was 1.3401 while the previous day low was 1.3305. The daily 38.2% Fib levels comes at 1.3342, expected to provide support. Similarly, the daily 61.8% fib level is at 1.3364, expected to provide support.

The USDCAD is rising sharply during Friday’s American session. Recently hit a fresh daily high at 1.3398 and then pulled back modestly. It is looking at the 1.3400 area, with a bullish tone as crude oil tumbles and Dollar recovers.

Data released in Canada showed the Industrial Product Price index rose by 2.4% in October above the 0.4% expected. The Raw Material Price Index increased 1.3%, against expectations of a flat reading. The numbers did not help the Canadian dollar.

Equity prices in Wall Street are trimming gains as crude oil prices tumble by more than 4%. At the same time, the US Dollar is strengthening as market sentiment deteriorates and as US yields remains in positive ground.

The context is boosting USDCAD that is testing the 1.3400 area that capped the upside on Thursday. A break higher could open the doors to the next resistance seen at 1.3460. If the Dollar fails here, a slide back to 1.3300 over the next sessions seems likely. An interim resistance is located at 1.3355.

The USDCAD is about to end the week with a gain of more than 100 pips, ending a 5-week negative streak. Price rebounded from the lowest level in months and also from the 20-week Simple Moving Average. A weekly close below 1.3250 should point to more declines.

Technical Levels: Supports and Resistances

USDCAD currently trading at 1.3394 at the time of writing. Pair opened at 1.3325 and is trading with a change of 0.52 % .

The pair is trading below its 20 Daily moving average @ 1.3508, below its 50 Daily moving average @ 1.354 , above its 100 Daily moving average @ 1.3246 and above its 200 Daily moving average @ 1.2991

The previous day high was 1.3401 while the previous day low was 1.3305. The daily 38.2% Fib levels comes at 1.3342, expected to provide support. Similarly, the daily 61.8% fib level is at 1.3364, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 1.3286, 1.3247, 1.3189
• Pivot resistance is noted at 1.3382, 1.344, 1.3479

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