“¢ The pair built on Friday’s strong upsurge and climbed further beyond the 1.3300 round figure mark through the European trading session on Monday.
“¢ The intraday positive momentum assisted the pair to make it through a short-term descending trend-line resistance and climb to over two-week highs.
“¢ Moreover, the fact that the pair remains well above important intraday moving averages – 50, 100 & 200-hour SMA, support prospects for additional gains.
“¢ Bullish oscillators on 4-hourly/daily charts add credence to the constructive outlook, though slightly overbought conditions on the 1-hourly chart capped gains.
“¢ The set-up points to a modest pull-back or a near-term consolidation phase before traders start positioning for further appreciation towards the 1.3400 handle.
USD/CAD 4-hourly chart
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USD/CAD
Overview:
Today Last Price: 1.3311
Today Daily change %: 0.11%
Today Daily Open: 1.3296
Trends:
Daily SMA20: 1.3216
Daily SMA50: 1.3315
Daily SMA100: 1.3271
Daily SMA200: 1.3166
Levels:
Previous Daily High: 1.3308
Previous Daily Low: 1.313
Previous Weekly High: 1.3308
Previous Weekly Low: 1.3112
Previous Monthly High: 1.3341
Previous Monthly Low: 1.3069
Daily Fibonacci 38.2%: 1.324
Daily Fibonacci 61.8%: 1.3197
Daily Pivot Point S1: 1.3181
Daily Pivot Point S2: 1.3066
Daily Pivot Point S3: 1.3003
Daily Pivot Point R1: 1.3359
Daily Pivot Point R2: 1.3422
Daily Pivot Point R3: 1.3537
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