Home USD/CAD technical analysis: Greenback trading at its lowest in nine months against CAD, sub- 1.3100
FXStreet News

USD/CAD technical analysis: Greenback trading at its lowest in nine months against CAD, sub- 1.3100

FX Street
Updated:
  • USD/CAD is challenging levels not seen since October 2018.
  • Sellers need a breakout below 1.3037 support.

USD/CAD daily chart

USD/CAD is dropping to multi-month lows as the market is trading below its main daily simple moving averages (DSMAs).  

USD/CAD 4-hour chart

USD/CAD had a small reaction up above the 1.3037 support but remains under heavy bearish pressure below its main SMAs. If the market break below 1.3037 support, the next levels to the downside can be seen at 1.3016 and 1.2969.

USD/CAD 30-minute chart

The market is trading below its main SMAs suggesting a bearish bias in the near term. Resistances can be seen at 1.3080, 1.3100 and 1.3125, according to the Technical Confluences Indicator.

Additional key levels

 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024