Search ForexCrunch

   “¢   The pair stalled its recent sharp corrective slide and staged a solid bounce from 50% Fibonacci retracement level of the 1.3113-1.3469 up-move to snap four consecutive days of losing streak.

   “¢   The intraday recovery move has now lifted the pair beyond 38.2% Fibonacci retracement level and closer to 50-hour SMA, which should act as an important pivotal point for intraday bullish traders.

   “¢   Technical indicators on the daily chart remained in the bullish territory and have also started catching up with the positive momentum on the 1-hourly chart, supporting prospects for further intraday gains.

   “¢   However, it would be prudent to wait for a follow-through move beyond the mentioned SMA before traders start positioning aggressively for an up-move towards 61.8% Fibonacci retracement level.  

USD/CAD 1-hourly chart


       Today Last Price:  1.3337
       Today Daily change:  37  pips
       Today Daily change %:  0.28%
       Today Daily Open:  1.33
       Daily SMA20:  1.3276
       Daily SMA50:  1.3267
       Daily SMA100:  1.3297
       Daily SMA200:  1.3183
       Previous Daily High:  1.337
       Previous Daily Low:  1.329
       Previous Weekly High:  1.3469
       Previous Weekly Low:  1.3275
       Previous Monthly High:  1.3341
       Previous Monthly Low:  1.3069
       Daily Fibonacci 38.2%:  1.3321
       Daily Fibonacci 61.8%:  1.3339
       Daily Pivot Point S1:  1.3271
       Daily Pivot Point S2:  1.3241
       Daily Pivot Point S3:  1.3192
       Daily Pivot Point R1:  1.335
       Daily Pivot Point R2:  1.3399
       Daily Pivot Point R3:  1.3429