“¢ The pair struggled to build on Friday’s post-NFP rebound from over one-week lows and faced rejection near 100-period SMA on the 1-hourly chart.
“¢ A follow-through weakness below 200-hour SMA was seen as a key trigger for bearish traders and thus, increases prospects for an extension of the downside.
“¢ Technical indicators on the mentioned chart have already drifted into bearish territory and further add credence to intraday negative/bearish outlook.
“¢ A sustained break through the 1.3070-65 horizontal area now seems to turn the pair vulnerable to head back towards challenging the key 1.30 psychological mark.
USD/CAD 1-hourly chart
USD/CAD
Overview:
Last Price: 1.3083
Daily change: -29 pips
Daily change: -0.221%
Daily Open: 1.3112
Trends:
Daily SMA20: 1.3059
Daily SMA50: 1.3019
Daily SMA100: 1.3077
Daily SMA200: 1.2926
Levels:
Daily High: 1.312
Daily Low: 1.3048
Weekly High: 1.3172
Weekly Low: 1.3048
Monthly High: 1.3172
Monthly Low: 1.2783
Daily Fibonacci 38.2%: 1.3092
Daily Fibonacci 61.8%: 1.3076
Daily Pivot Point S1: 1.3067
Daily Pivot Point S2: 1.3022
Daily Pivot Point S3: 1.2996
Daily Pivot Point R1: 1.3138
Daily Pivot Point R2: 1.3164
Daily Pivot Point R3: 1.3209