“¢ The pair was seen consolidating overnight strong gains to fresh weekly tops and now seems to have formed a firm base near the 200-hour SMA.
“¢ Technical indicators on hourly charts remain supportive of the bullish move, though are yet to catch up with the positive momentum on the daily chart.
“¢ The fact that the pair is holding well above intraday important moving averages – 50, 100 & 200-hour SMA, support prospects for an extension of the recovery move.
“¢ Currently hovering around 50% Fibonacci retracement level of the 1.3082-1.2782 downfall, traders await the release of NFP report for fresh directional impetus.
USD/CAD 1-hourly chart
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USD/CAD
Overview:
Last Price: 1.2936
Daily change: 14 pips
Daily change: 0.108%
Daily Open: 1.2922
Trends:
Daily SMA20: 1.2975
Daily SMA50: 1.302
Daily SMA100: 1.3052
Daily SMA200: 1.2868
Levels:
Daily High: 1.294
Daily Low: 1.2856
Weekly High: 1.3083
Weekly Low: 1.2904
Monthly High: 1.3228
Monthly Low: 1.2882
Daily Fibonacci 38.2%: 1.2907
Daily Fibonacci 61.8%: 1.2888
Daily Pivot Point S1: 1.2871
Daily Pivot Point S2: 1.2821
Daily Pivot Point S3: 1.2787
Daily Pivot Point R1: 1.2955
Daily Pivot Point R2: 1.2989
Daily Pivot Point R3: 1.3039
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