“¢ The pair continued scaling higher through the mid-European session on Wednesday and climbed to two-month tops, closer to the 1.3400 handle ahead of the latest BoC monetary policy update.
“¢ The recent up-move along a short-term ascending trend-line since the beginning of this week further fueled the latest bullish breakout beyond a six-week-old descending trend-line barrier.
“¢ Bullish oscillators on the daily chart remained supportive of the ongoing bullish momentum, though slightly overbought conditions on the 4-hourly chart warrant some consolidation/caution.
“¢ Hence, traders are likely to wait for today’s key event risk for some meaningful impetus and before placing any aggressive bets/positioning for the pair’s next leg of a directional move.
USD/CAD 4-hourly chart
-636874683722411571.png)
USD/CAD
Overview:
Today Last Price: 1.3376
Today Daily change: 24 pips
Today Daily change %: 0.18%
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
Share
