USD/CAD Price Analysis: Set-up remains in favour of bullish traders

Posted 04 February, 2020

The USD / CAD pair struggled to support the recent positive move beyond the round value of 1.3300 and was a modest day off after two-month highs.

Given recent short-term channel growth and subsequent movement beyond the very important 200-day SMA, the setup is still favorable for bull traders.

Nevertheless, the slightly outlined conditions on the daily chart seemed to be the only factor limiting the next positive step amid well-resumed oil prices.

Therefore, it would be prudent to wait for short-term consolidation or potential resistance to the aforementioned trend channel before entering new bullish positions.

Unable to protect the aforementioned merger - currently close to 1.3230 - now expects even greater acceleration to 100 days of SMA support near the 1.3180 zone.



USD/CAD daily chart



Today last price 1.3281
Today Daily Change -0.0017
Today Daily Change % -0.13
Today daily open




Previous Daily High 1.3305
Previous Daily Low 1.3232
Previous Weekly High 1.3255
Previous Weekly Low 1.3148
Previous Monthly High 1.3255
Previous Monthly Low 1.29
Daily Fibonacci 38.2% 1.3277
Daily Fibonacci 61.8% 1.326
Daily Pivot Point S1 1.3252
Daily Pivot Point S2 1.3205
Daily Pivot Point S3 1.3179
Daily Pivot Point R1 1.3325
Daily Pivot Point R2 1.3351
Daily Pivot Point R3 1.3398



Daily SMA20 1.3113
Daily SMA50 1.314
Daily SMA100 1.3178
Daily SMA200 1.3227

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20 February, 2020 14:46

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24 January, 2020 16:31

USD/CAD, EUR/USD, AUD/USD Technical Analysis for Next Week & More →

USD/CAD rallied strongly on Wednesday, but was followed by a test of a trend-line from 2017 that turned into a mini failure. The reversal yesterday could spell some short-term weakness at the least. A close above 13171 will negate the reversal.

USD/CAD, EUR/USD, AUD/USD Technical Analysis for Next Week & More
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