USD/CAD confronts 200-day SMA, a falling resistance line since late-May. 50% of Fibonacci retracement adds to the resistance. 100-day SMA acts as a near-term firm support. The USD/CAD pair’s run-up to five-week high seems to witness a bumpy road ahead. The quote takes the bids to 1.3280 during the Asian session on Wednesday. The downward sloping trend line since May 30, coupled with 200-day Simple Moving Average (SMA), near 1.3277/80 acts as immediate upside barriers for the pair’s latest rise. Also increasing hardships for buyers is 50% Fibonacci retracement level of May-July declines at 1.3290. In case bulls manage to dominate past-1.3290, the 1.3350/55 area including the previous month high and 61.8% Fibonacci retracement will be in the spotlight. On the downside, 38.2% Fibonacci retracement level of 1.3225 offers nearby rest during the pair’s pullback, a break of which could recall a 100-day SMA level of 1.3205. It should be noted that the two-week-old rising support line around 1.3160 could question sellers below 1.3205. USD/CAD daily chart Trend: Pullback expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Japanese ruling coalition are seeking JPY 10 tln for the extra budget – Nikkei FX Street 3 years USD/CAD confronts 200-day SMA, a falling resistance line since late-May. 50% of Fibonacci retracement adds to the resistance. 100-day SMA acts as a near-term firm support. The USD/CAD pair's run-up to five-week high seems to witness a bumpy road ahead. The quote takes the bids to 1.3280 during the Asian session on Wednesday. The downward sloping trend line since May 30, coupled with 200-day Simple Moving Average (SMA), near 1.3277/80 acts as immediate upside barriers for the pair's latest rise. Also increasing hardships for buyers is 50% Fibonacci retracement level of May-July declines at 1.3290. In case bulls manage to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
