“¢ The pair has been trending higher along an upward sloping trend-line, extending since early Oct., which now coincides with 100-day SMA support.
“¢ The said confluence region, currently near the 1.3075 region, might continue to attract some dip-buying interest and help limit any immediate sharp fall.
“¢ Technical indicators on the daily chart have managed to hold in bullish territory and further add credence to the near-term constructive outlook for the pair.
“¢ However, a convincing break through the mentioned support might negate the positive bias and turn the pair vulnerable to weaken further below the key 1.30 psychological mark.
USD/CAD daily chart
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USD/CAD
Overview:
Last Price: 1.3124
Daily change: 19 pips
Daily change: 0.145%
Daily Open: 1.3105
Trends:
Daily SMA20: 1.3066
Daily SMA50: 1.302
Daily SMA100: 1.3077
Daily SMA200: 1.293
Levels:
Daily High: 1.3118
Daily Low: 1.3071
Weekly High: 1.3172
Weekly Low: 1.3048
Monthly High: 1.3172
Monthly Low: 1.2783
Daily Fibonacci 38.2%: 1.31
Daily Fibonacci 61.8%: 1.3089
Daily Pivot Point S1: 1.3078
Daily Pivot Point S2: 1.3051
Daily Pivot Point S3: 1.3032
Daily Pivot Point R1: 1.3124
Daily Pivot Point R2: 1.3144
Daily Pivot Point R3: 1.3171
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