Home USD/CAD Technical Analysis: Greenback bears looking at 1.3340 ahead of BoC rate statement
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USD/CAD Technical Analysis: Greenback bears looking at 1.3340 ahead of BoC rate statement

USD/CAD 4-hour chart

  • USD/CAD is trading above its main SMAs suggesting bullish momentum in the near-term.  
  • The Bank Of Canada rate statement will be announced at 15:00 GMT and can provide volatility to CAD-related pairs.

USD/CAD 30-minute chart

  • USD/CAD has been evolving in a rising wedge suggesting that the market is running out of steam.
  • Bears can target 1.3340 and 1.3300 to the downside.  
  • On the flip side, if bulls break above 1.3400 all bets are off and the market could skyrocket towards 1.3425  level.

Additional key levels

USD/CAD

Overview:
       Today Last Price:  1.3382
       Today Daily change:  30  pips
       Today Daily change %:  0.22%
       Today Daily Open:  1.3352
Trends:
       Daily SMA20:  1.3236
       Daily SMA50:  1.3294
       Daily SMA100:  1.3278
       Daily SMA200:  1.317
Levels:
       Previous Daily High:  1.3362
       Previous Daily Low:  1.3302
       Previous Weekly High:  1.3308
       Previous Weekly Low:  1.3112
       Previous Monthly High:  1.3341
       Previous Monthly Low:  1.3069
       Daily Fibonacci 38.2%:  1.3339
       Daily Fibonacci 61.8%:  1.3324
       Daily Pivot Point S1:  1.3315
       Daily Pivot Point S2:  1.3278
       Daily Pivot Point S3:  1.3255
       Daily Pivot Point R1:  1.3375
       Daily Pivot Point R2:  1.3398
       Daily Pivot Point R3:  1.3435

 

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