USD/CAD Technical Analysis: Corrective slide extends after mixed US CPI, 100-hour SMA support near 1.3200 mark eyed
• The pair continued with its struggle to make it through mid-1.3200s and was now seen retracing from a short-term ascending trend-channel resistance, held over the past one month or so.
• A break below 50-hour SMA was seen as a trigger for intraday bearish traders, which coupled with softer than expected US core inflation figures prompted some fresh selling in the last hour.
• With technical indicators on the 1-hourly chart gradually gaining negative momentum, a follow-through weakness below 100-hour SMA support might exert some additional downward pressure.
USD/CAD 4-hourly chart
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USD/CAD
Overview:
Last Price: 1.3228
Daily change: -14 pips
Daily change: -0.106%
Daily Open: 1.3242
Trends:
Daily SMA20: 1.3121
Daily SMA50: 1.3044
Daily SMA100: 1.3071
Daily SMA200: 1.2956
Levels:
Daily High: 1.3264
Daily Low: 1.3214
Weekly High: 1.3233
Weekly Low: 1.3056
Monthly High: 1.3172
Monthly Low: 1.2783
Daily Fibonacci 38.2%: 1.3234
Daily Fibonacci 61.8%: 1.3245
Daily Pivot Point S1: 1.3216
Daily Pivot Point S2: 1.319
Daily Pivot Point S3: 1.3166
Daily Pivot Point R1: 1.3266
Daily Pivot Point R2: 1.329
Daily Pivot Point R3: 1.3316