Search ForexCrunch

   “¢   The pair has been trending higher along an upward sloping trend-line, extending since early Oct., which now coincides with 100-day SMA support.

   “¢   The said confluence region, currently near the 1.3075 region, might continue to attract some dip-buying interest and help limit any immediate sharp fall.

   “¢   Technical indicators on the daily chart have managed to hold in bullish territory and further add credence to the near-term constructive outlook for the pair.  

   “¢   However, a convincing break through the mentioned support might negate the positive bias and turn the pair vulnerable to weaken further below the key 1.30 psychological mark.
 

USD/CAD daily chart

USD/CAD

Overview:
       Last Price:  1.3124
       Daily change:  19  pips
       Daily change:  0.145%
       Daily Open:  1.3105
Trends:
       Daily SMA20:  1.3066
       Daily SMA50:  1.302
       Daily SMA100:  1.3077
       Daily SMA200:  1.293
Levels:
       Daily High:  1.3118
       Daily Low:  1.3071
       Weekly High:  1.3172
       Weekly Low:  1.3048
       Monthly High:  1.3172
       Monthly Low:  1.2783
       Daily Fibonacci 38.2%:  1.31
       Daily Fibonacci 61.8%:  1.3089
       Daily Pivot Point S1:  1.3078
       Daily Pivot Point S2:  1.3051
       Daily Pivot Point S3:  1.3032
       Daily Pivot Point R1:  1.3124
       Daily Pivot Point R2:  1.3144
       Daily Pivot Point R3:  1.3171