“¢ The pair extended its sideways consolidative price action through the mid-European session and was now seen trying to form a temporary base near 50-hour SMA.
“¢ The mentioned support coincides with 23.6% Fibonacci retracement level of the 1.3375-1.3203 recent downfall and should continue to protect the immediate downside.
“¢ Meanwhile, technical indicators on the 1-hourly chart are pointing to neutral intraday bias and have also struggled to gain any positive traction on 4-hourly/daily chart.
“¢ The set-up clearly points to an extension of the subdued/range-bound price action ahead of the key risk events – the latest FOMC policy update and US-China trade talks.
USD/CAD 1-hourly chart
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USD/CAD
Overview:
Today Last Price: 1.3255
Today Daily change %: 0.02%
Today Daily Open: 1.3252
Trends:
Daily SMA20: 1.3329
Daily SMA50: 1.338
Daily SMA100: 1.3213
Daily SMA200: 1.3122
Levels:
Previous Daily High: 1.3287
Previous Daily Low: 1.3203
Previous Weekly High: 1.3378
Previous Weekly Low: 1.3224
Previous Monthly High: 1.4134
Previous Monthly Low: 1.316
Daily Fibonacci 38.2%: 1.3255
Daily Fibonacci 61.8%: 1.3235
Daily Pivot Point S1: 1.3208
Daily Pivot Point S2: 1.3164
Daily Pivot Point S3: 1.3125
Daily Pivot Point R1: 1.3292
Daily Pivot Point R2: 1.3331
Daily Pivot Point R3: 1.3375
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