USD/CAD stays below near-term key support (now resistance). 200-day SMA adds resistance to the upside. With its sustained trading below nearly three-week-old rising trend line, USD/CAD stays on the back foot while taking rounds to 1.3220 during Monday’s Asian session. The pair nears 50% Fibonacci retracement level of September-October downside, at 1.3210, a break of which will shift sellers’ attention to 100-day Simple Moving Average (SMA), close to 1.3200. Given the bears’ dominance past-1.3200, 38.2% Fibonacci retracement around 1.3170 and monthly bottom surrounding 1.3115 will return to the charts. Meanwhile, pair’s pullback beyond support-turned-resistance, at 1.3245, needs to cross 61.8% Fibonacci retracement level of 1.3255 to confront 200-day SMA, at 1.3276. Assuming the bull’s capacity to conquer 1.3276 on a daily closing basis, October month high near 1.3350 could become buyers’ favorites. USD/CAD daily chart Trend: Bearish 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 US: Oct Retail Sales were solid, Industrial Production disappointed – Westpac FX Street 3 years USD/CAD stays below near-term key support (now resistance). 200-day SMA adds resistance to the upside. With its sustained trading below nearly three-week-old rising trend line, USD/CAD stays on the back foot while taking rounds to 1.3220 during Monday's Asian session. The pair nears 50% Fibonacci retracement level of September-October downside, at 1.3210, a break of which will shift sellers' attention to 100-day Simple Moving Average (SMA), close to 1.3200. Given the bears' dominance past-1.3200, 38.2% Fibonacci retracement around 1.3170 and monthly bottom surrounding 1.3115 will return to the charts. Meanwhile, pair's pullback beyond support-turned-resistance, at 1.3245, needs to cross 61.8%… 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.
