“¢ The pair has been trying to recover from near three-month lows set last Friday and managed to defend a short-term ascending trend-line support, above the 1.3100 handle.
“¢ With technical indicators on the 1-hourly chart gaining positive traction, the set-up support prospects for further short-covering bounce amid a follow-through USD buying.
“¢ A sustained move beyond 100-hour SMA will add credence to the positive outlook and should assist the pair to make an attempt to reclaim the 1.3200 round figure mark.
“¢ However, bearish oscillators on 4-hourly/daily chart might turn out to be one of the key factors keeping a lid on any runaway rally amid the recent bullish run-up in oil prices.
USD/CAD 1-hourly chart
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USD/CAD
Overview:
Today Last Price: 1.312
Today Daily change %: 0.05%
Today Daily Open: 1.3113
Trends:
Daily SMA20: 1.3247
Daily SMA50: 1.3371
Daily SMA100: 1.3219
Daily SMA200: 1.313
Levels:
Previous Daily High: 1.3148
Previous Daily Low: 1.3084
Previous Weekly High: 1.3287
Previous Weekly Low: 1.3069
Previous Monthly High: 1.3664
Previous Monthly Low: 1.3118
Daily Fibonacci 38.2%: 1.3123
Daily Fibonacci 61.8%: 1.3109
Daily Pivot Point S1: 1.3083
Daily Pivot Point S2: 1.3052
Daily Pivot Point S3: 1.302
Daily Pivot Point R1: 1.3146
Daily Pivot Point R2: 1.3178
Daily Pivot Point R3: 1.3209
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