#USDCAD @ 1.33150 tumbled to fresh YTD lows at around 1.3262 but recovered and reclaimed 1.3300. (Pivot Orderbook analysis)
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- USD/CAD tumbled to fresh YTD lows at around 1.3262 but recovered and reclaimed 1.3300.
- USD/CAD Price Analysis: Upward biased above 1.3250.
The pair currently trades last at 1.33150.
The previous day high was 1.338 while the previous day low was 1.3267. The daily 38.2% Fib levels comes at 1.331, expected to provide support. Similarly, the daily 61.8% fib level is at 1.3337, expected to provide resistance.
The USD/CAD recovered some ground, trimmed some of its Wednesday’s losses on Thursday, and rose by 0.19% after hitting a new YTD low at 1.3262. As the Asian session begins, the USD/CAD exchanges hands at 1.3313, below its opening price at the time of writing.
Technically speaking, the USD/CAD is still upward biased, once achieved to stay above the 200-day Exponential Moving Average (EMA) at 1.3256. However, it should be said that once the USD/CAD tumbled below a three-month-old upslope support trendline, it failed to clear the latter, exposing the USD/CAD pair to some selling pressure.
If the USD/CAD tumbles back below 1.3300, bears next target would be the 200-day EMA. Once broken, the USD/CAD could extend its losses towards 1.3200.
As an alternate scenario, if the USD/CAD extends its recovery beyond the trendline mentioned above that passes around 1.3350, that would exacerbate a rally to 1.3400. If the bulls moved in, the USD/CAD following target would be the 100-day EMA at 1.3409, followed by the 50-day EMA at 1.3440, ahead of the January 19 swing high at 1.3520.
Technical Levels: Supports and Resistances
USDCAD currently trading at 1.332 at the time of writing. Pair opened at 1.3288 and is trading with a change of 0.24 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 1.3320 |
| 1 | Today Daily Change | 0.0032 |
| 2 | Today Daily Change % | 0.2400 |
| 3 | Today daily open | 1.3288 |
The pair is trading below its 20 Daily moving average @ 1.3396, below its 50 Daily moving average @ 1.3499 , below its 100 Daily moving average @ 1.3531 and above its 200 Daily moving average @ 1.3216
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 1.3396 |
| 1 | Daily SMA50 | 1.3499 |
| 2 | Daily SMA100 | 1.3531 |
| 3 | Daily SMA200 | 1.3216 |
The previous day high was 1.338 while the previous day low was 1.3267. The daily 38.2% Fib levels comes at 1.331, expected to provide support. Similarly, the daily 61.8% fib level is at 1.3337, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 1.3243, 1.3198, 1.3129
- Pivot resistance is noted at 1.3357, 1.3425, 1.347
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 1.3380 |
| Previous Daily Low | 1.3267 |
| Previous Weekly High | 1.3428 |
| Previous Weekly Low | 1.3300 |
| Previous Monthly High | 1.3685 |
| Previous Monthly Low | 1.3300 |
| Daily Fibonacci 38.2% | 1.3310 |
| Daily Fibonacci 61.8% | 1.3337 |
| Daily Pivot Point S1 | 1.3243 |
| Daily Pivot Point S2 | 1.3198 |
| Daily Pivot Point S3 | 1.3129 |
| Daily Pivot Point R1 | 1.3357 |
| Daily Pivot Point R2 | 1.3425 |
| Daily Pivot Point R3 | 1.3470 |
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