- USD/CAD attracts some sellers and trades in negative territory for the sixth consecutive day on Friday.
- The pair holds below the 50- and 100-hour EMAs; the Relative Strength Index (RSI) stands below 50.
- The immediate resistance level for the pair is seen at 1.3530; the 1.3490 acts as an initial support level.
The USD/CAD pair extends its downside around the 1.3500 mark during the early European session on Friday. A rally in crude oil prices near the highest level since November 2022 boosts the commodity-linked Loonie against the US Dollar (USD) and acts as a headwind for the USD/CAD pair.
According to the one-hour chart, USD/CAD holds below the 50- and 100-hour Exponential Moving Averages (EMAs) with a downward slope, which supports the sellers for the time being. Additionally, the Relative Strength Index (RSI) stands below 50, activating the bearish momentum for the USD/CAD pair for pair.
The immediate resistance level for the pair is seen at 1.3530, representing the 50-hour EMA and the upper boundary of the Bollinger Band. Any follow-through buying above the latter will pave the way to 1.3553 (the 100-hour EMA). The additional upside filter to watch is near a high of September 13 at 1.3586, followed by a psychological round figure at 1.3600.
Looking at the downside, the 1.3490 acts as an initial support level for USD/CAD. The mentioned level portrays the lower limit of the Bollinger Band. A breach below the latter will see a drop to 1.3475 (a low of August 16). Further south, the next downside stop is located at 1.3445 (a low of August 15) en route to a low of August 11 at 1.3412.
USD/CAD one-hour chart
USD/CAD
OVERVIEW |
---|
Today last price | 1.3497 |
Today Daily Change | -0.0011 |
Today Daily Change % | -0.08 |
Today daily open | 1.3508 |
TRENDS |
---|
Daily SMA20 | 1.3576 |
Daily SMA50 | 1.3409 |
Daily SMA100 | 1.3403 |
Daily SMA200 | 1.3466 |
LEVELS |
---|
Previous Daily High | 1.3557 |
Previous Daily Low | 1.3493 |
Previous Weekly High | 1.3694 |
Previous Weekly Low | 1.3576 |
Previous Monthly High | 1.364 |
Previous Monthly Low | 1.3184 |
Daily Fibonacci 38.2% | 1.3518 |
Daily Fibonacci 61.8% | 1.3532 |
Daily Pivot Point S1 | 1.3482 |
Daily Pivot Point S2 | 1.3456 |
Daily Pivot Point S3 | 1.3419 |
Daily Pivot Point R1 | 1.3546 |
Daily Pivot Point R2 | 1.3583 |
Daily Pivot Point R3 | 1.3609 |