USD/CAD Technical Analysis: 1.3245 becomes immediate challenge ahead of aiming 1.3295-1.3300 region

0
  • USD/CAD trades around 1.3230 at the beginning of the Asian session on Friday.
  • The pair recently recovered from late-January highs but an immediate downward sloping trend-line joining a week’s high, at 1.3245, may challenge the up-moves.
  • Given the pair’s successful break of 1.3245, it becomes capable of aiming the 1.3295-1.3300 resistance-region comprising another descending resistance-line connecting highs marked since January 24 and 38.2% Fibonacci retracement of the pair’s late-December to early February downturn.
  • Should there be additional upside past-1.3300, 1.3330 and 50% Fibonacci retracement near 1.3365 can please the buyers.
  • Meanwhile, 1.3165 can offer immediate support to the pair during its pullback, a break of which can recall 1.3120 and 1.3080 rest-points on the chart.
  • In a case where prices keep drowning past-1.3080, the current month low around 1.3065 may offer an intermediate halt, which if ignored could trigger the pair’s plunge to 1.2970, including 61.8% Fibonacci expansion of its moves since the end of December 2018.

USD/CAD 4-Hour chart

Additional important levels:

Overview:
    Today Last Price: 1.323
    Today Daily change: 53 pips
    Today Daily change %: 0.40%
    Today Daily Open: 1.3177
Trends:
    Daily SMA20: 1.3223
    Daily SMA50: 1.3352
    Daily SMA100: 1.3256
    Daily SMA200: 1.3154
Levels:
    Previous Daily High: 1.322
    Previous Daily Low: 1.315
    Previous Weekly High: 1.3341
    Previous Weekly Low: 1.3196
    Previous Monthly High: 1.3664
    Previous Monthly Low: 1.3118
    Daily Fibonacci 38.2%: 1.3177
    Daily Fibonacci 61.8%: 1.3194
    Daily Pivot Point S1: 1.3144
    Daily Pivot Point S2: 1.3112
    Daily Pivot Point S3: 1.3074
    Daily Pivot Point R1: 1.3215
    Daily Pivot Point R2: 1.3253
    Daily Pivot Point R3: 1.3285

 

Get the 5 most predictable currency pairs

About Author

Comments are closed.