USD/CAD technical analysis: 1.3445/40 is the level to beat for sellers

  • Repeated failures to clear 1.3500 portray the pair’s weakness.
  • The three-week-old support-line limits immediate declines.

Having witnessed another failure to successfully clear 1.3500, USD/CAD is taking the rounds near 1.3450 during early Friday.

While 1.3500 seems challenging short-term buyers, an upward sloping trend-line since April 17 is acting as important downside support for sellers.

Given the prices dip beneath 1.3445/40 support-line, 50% Fibonacci retracement of its late-April upside near 1.3400 can quickly appear on the chart while current month bottom near 1.3375 may please bears then after.

If at all there prevails additional selling pressure past-1.3375, a horizontal-line connecting low since mid-April, at 1.3335, may grab the spotlight.

On the contrary, 1.3480 can question the pair’s pullback ahead of 1.3500.

However, pair’s sustained break of 1.3500 might not refrain from challenging late-April highs near 1.3520 and four-month long ascending resistance-line at 1.3545.

USD/CAD 4-Hour chart

USD/CAD technical analysis: 1.3445/40 is the level to beat for sellers

Trend: Pullback expected

Additional important levels

Overview
Today last price1.3452
Today Daily Change-24 pips
Today Daily Change %-0.18%
Today daily open1.3476
 
Trends
Daily SMA201.3421
Daily SMA501.3384
Daily SMA1001.3352
Daily SMA2001.3234
Levels
Previous Daily High1.3506
Previous Daily Low1.3459
Previous Weekly High1.3491
Previous Weekly Low1.3376
Previous Monthly High1.3522
Previous Monthly Low1.3274
Daily Fibonacci 38.2%1.3477
Daily Fibonacci 61.8%1.3488
Daily Pivot Point S11.3455
Daily Pivot Point S21.3434
Daily Pivot Point S31.3408
Daily Pivot Point R11.3502
Daily Pivot Point R21.3527
Daily Pivot Point R31.3548

 

 

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