USD/CAD Price Analysis: Gaining traction and testing the 100-day EMA around 1.3410

- Article Top Advertisement -
  • USD/CAD resumed its uptrend once it recaptured the February 1 daily high at 1.3379.
  • USD/CAD Price Analysis: A daily close above 1.3400 will exacerbate a rally towards 1.3500. Otherwise, a further drop is expected.

The USD/CAD rises in the North American session after touching a daily low at 1.3311 before the opening of Wall Street. However, the strong US jobs report strengthened the dollar, the strongest currency in the foreign exchange market. At the time of writing, the USD/CAD pair is trading at 1.3402.

USD/CAD Price Analysis: Technical Perspective

From a technical point of view, the USD/CAD continues to have a neutral bullish bias, although it did pick up some resistance levels after testing the 200 day EMA a couple of days ago. On its way north, the USD/CAD pair conquered a bullish support trend line that was broken on January 31, which means that the uptrend could resume shortly.

- Article Inline Advertisement 1-

Therefore, the next resistance for USD/CAD would be the 50-day EMA at 1.3443. Break above, and the USD/CAD pair would recapture the daily high from Jan 31 at 1.3471, followed by 1.3500.

As an alternate scenario, USD/CAD first support would be 1.3400. Once broken, USD/CAD could test the 20-day EMA at 1.3388, followed by a downtrend line becoming support at 1.3355-65, and then the psychological level of 1.3300.

- Advertisement -

Key technical levels for USD/CAD


Last price today 1.34
Today I change daily 0.0087
today’s daily variation 0.65
today’s daily opening 1.3313
daily SMA20 1.3383
daily SMA50 1.3498
daily SMA100 1.3532
daily SMA200 1.3219
previous daily high 1.3348
previous daily low 1.3262
Previous Weekly High 1.3428
previous weekly low 1.33
Previous Monthly High 1.3685
Previous monthly minimum 1.33
Fibonacci daily 38.2 1.3315
Fibonacci 61.8% daily 1.3295
Daily Pivot Point S1 1.3268
Daily Pivot Point S2 1.3222
Daily Pivot Point S3 1.3183
Daily Pivot Point R1 1.3353
Daily Pivot Point R2 1.3393
Daily Pivot Point R3 1.3438

Source: Fx Street

- Article Bottom Advertisement -


Please enter your comment!
Please enter your name here

Hot Topics

Related Articles