Home USD/CAD Technical Analysis: Drops to 1-1/2 week lows, testing 23.6% Fibo. level support
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USD/CAD Technical Analysis: Drops to 1-1/2 week lows, testing 23.6% Fibo. level support

   “¢   The pair finally broke down of its late US/early Asian session consolidation phase and extended overnight sharp retracement slide to hit fresh 1-1/2 week lows in the last hour.

   “¢   The overnight bearish crossover on the 1-hourly chart – 50-hour SMA falling below 200-hour SMA, point to an extension of the corrective slide from over 18-month tops.  

   “¢   However, technical indicators on the mentioned chart have drifted into oversold territory and should help limit the downside near 23.6% Fibo. level of the 1.2782-1.3665 upsurge.

   “¢   Meanwhile, oscillators on the daily chart were also seen losing positive momentum and hence, any attempted recovery seems more likely to get sold into near the 1.3500 handle.

USD/CAD 1-hourly chart

USD/CAD

Overview:
       Today Last Price:  1.3462
       Today Daily change:  -20  pips
       Today Daily change %:  -0.148%
       Today Daily Open:  1.3482
Trends:
       Previous Daily SMA20:  1.3529
       Previous Daily SMA50:  1.3336
       Previous Daily SMA100:  1.3174
       Previous Daily SMA200:  1.3074
Levels:
       Previous Daily High:  1.366
       Previous Daily Low:  1.3469
       Previous Weekly High:  1.4134
       Previous Weekly Low:  1.3564
       Previous Monthly High:  1.4134
       Previous Monthly Low:  1.316
       Previous Daily Fibonacci 38.2%:  1.3542
       Previous Daily Fibonacci 61.8%:  1.3587
       Previous Daily Pivot Point S1:  1.3414
       Previous Daily Pivot Point S2:  1.3346
       Previous Daily Pivot Point S3:  1.3224
       Previous Daily Pivot Point R1:  1.3605
       Previous Daily Pivot Point R2:  1.3727
       Previous Daily Pivot Point R3:  1.3795

 

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