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  • USD/CAD is trading in a bull trend above its 200-period simple moving average (SMA) on the 4-hour chart.
  • USD/CAD created a wedge pattern in October and the market is having trouble to continue the uptrend since the start of November. 1.3150 should cap any bullish advances. The RSI, MACD and Stochastic are turning bearish.  
  • Targets to the downside can be located near 1.3083 (September 27 swing high) and 1.3053 (October 15 high).  

USD/CAD-hour chart

Main trend:                Bullish
Short-term trend:       Bearish

Resistance 1:            1.3161 October 26 high
Resistance 2:            1.3200 figure
Resistance 3:            1.3300 figure

Support 1:            1.3108, September 7 low
Support 2:            1.3083 September 27 swing high
Support 3:            1.3053 October 15 high
Support 4:            1.3000 figure
Support 5:            1.2950-59 multi-month key level and August 7 low

 

Additional key levels at a glance:

USD/CAD

Overview:
       Last Price:  1.3109
       Daily change:  -17  pips
       Daily change:  -0.130%
       Daily Open:  1.3126
Trends:
       Daily SMA20:  1.3075
       Daily SMA50:  1.3024
       Daily SMA100:  1.3076
       Daily SMA200:  1.2934
Levels:
       Daily High:  1.3146
       Daily Low:  1.3096
       Weekly High:  1.3172
       Weekly Low:  1.3048
       Monthly High:  1.3172
       Monthly Low:  1.2783
       Daily Fibonacci 38.2%:  1.3126
       Daily Fibonacci 61.8%:  1.3115
       Daily Pivot Point S1:  1.3099
       Daily Pivot Point S2:  1.3072
       Daily Pivot Point S3:  1.3049
       Daily Pivot Point R1:  1.3149
       Daily Pivot Point R2:  1.3172
       Daily Pivot Point R3:  1.3199