Home USD/CAD Technical Analysis: 61.8% Fibo. level of the recent upsurge tested ahead of FOMC minutes
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USD/CAD Technical Analysis: 61.8% Fibo. level of the recent upsurge tested ahead of FOMC minutes

   “¢   The pair extended overnight bearish slide below 100-day SMA support and remained under some heavy selling pressure for the fourth consecutive session on Wednesday.

   “¢   The pair has now dropped to 61.8% Fibonacci retracement level of the 1.3069-1.3340 recent upsurge, which if broken might accelerate the slide towards 200-day SMA.

   “¢   Technical indicators on hourly/daily charts are holding in the negative territory and point to further downside, despite a modest USD rebound/pull-back in oil prices.

   “¢   However, a sustained recovery back above the 1.3200 handle might trigger a short-covering bounce towards 100-DMA support turned resistance, near the 1.3235 region.

USD/CAD 1-hourly chart

USD/CAD

Overview:
       Today Last Price:  1.3176
       Today Daily change %:  -0.27%
       Today Daily Open:  1.3212
Trends:
       Daily SMA20:  1.3231
       Daily SMA50:  1.3356
       Daily SMA100:  1.3253
       Daily SMA200:  1.3152
Levels:
       Previous Daily High:  1.3294
       Previous Daily Low:  1.3204
       Previous Weekly High:  1.3341
       Previous Weekly Low:  1.3196
       Previous Monthly High:  1.3664
       Previous Monthly Low:  1.3118
       Daily Fibonacci 38.2%:  1.3239
       Daily Fibonacci 61.8%:  1.326
       Daily Pivot Point S1:  1.3179
       Daily Pivot Point S2:  1.3147
       Daily Pivot Point S3:  1.3089
       Daily Pivot Point R1:  1.3269
       Daily Pivot Point R2:  1.3327
       Daily Pivot Point R3:  1.3359

 

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