“¢ The pair extended its retracement slide from a one-month-old ascending trend-channel resistance and has now slipped below 100-hour SMA for the first time in nearly since last Thursday.
“¢ Technical indicators on the 1-hourly chart have been gaining bearish momentum and thus, support prospects for an extension of the pair’s overnight rejection from the 1.3260-65 supply zone.
“¢ Weakness below 23.6% Fibonacci retracement level of the 1.3056-1.3264 upsurge, leading to a subsequent breakthrough the 1.3200 handle will further add credence to the negative outlook.
“¢ However, the ascending trend-channel points to a well-established near-term bullish trend and hence, any meaningful fall is more likely to get bought into near 50% Fibo. level support.
USD/CAD 1-hourly chart
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USD/CAD
Overview:
Last Price: 1.3221
Daily change: -17 pips
Daily change: -0.128%
Daily Open: 1.3238
Trends:
Daily SMA20: 1.3132
Daily SMA50: 1.3045
Daily SMA100: 1.307
Daily SMA200: 1.296
Levels:
Daily High: 1.3264
Daily Low: 1.3208
Weekly High: 1.3233
Weekly Low: 1.3056
Monthly High: 1.3172
Monthly Low: 1.2783
Daily Fibonacci 38.2%: 1.3229
Daily Fibonacci 61.8%: 1.3243
Daily Pivot Point S1: 1.3209
Daily Pivot Point S2: 1.318
Daily Pivot Point S3: 1.3152
Daily Pivot Point R1: 1.3266
Daily Pivot Point R2: 1.3294
Daily Pivot Point R3: 1.3323
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