“¢ The pair built on the previous session’s strong rebound from near three-week low and continued gaining positive traction through the mid-European session on Tuesday.
“¢ The fact that the pair managed to sustain above 100-day SMA was seen as a key trigger for bullish traders and follow-through strength beyond the 1.3200 handle.
“¢ A subsequent up-move lifted the pair through over one-week-old descending trend-line resistance, with bulls now eyeing to extend the momentum beyond 200-hour SMA.
“¢ The set-up points to some additional near-term gains, though traders are likely to wait for a decisive breakthrough 50% Fibo. level of the 1.3340-1.3113 recent downfall.
USD/CAD 1-hourly chart
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USD/CAD
Overview:
Today Last Price: 1.322
Today Daily change %: 0.20%
Today Daily Open: 1.3194
Trends:
Daily SMA20: 1.3209
Daily SMA50: 1.3341
Daily SMA100: 1.3264
Daily SMA200: 1.3159
Levels:
Previous Daily High: 1.3198
Previous Daily Low: 1.3112
Previous Weekly High: 1.3294
Previous Weekly Low: 1.3134
Previous Monthly High: 1.3664
Previous Monthly Low: 1.3118
Daily Fibonacci 38.2%: 1.3165
Daily Fibonacci 61.8%: 1.3145
Daily Pivot Point S1: 1.3138
Daily Pivot Point S2: 1.3083
Daily Pivot Point S3: 1.3053
Daily Pivot Point R1: 1.3223
Daily Pivot Point R2: 1.3253
Daily Pivot Point R3: 1.3309
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