USD/CAD Technical Analysis: Sharp decline leading into possible recovery zone at Fibo level
- USD/CAD has been leaking steadily, declining over the past week from a consolidation peak near 1.3650, and the pair is now knocking on lows around 1.3230.
USD/CAD, 15-Minute
- After breaking from consolidation towards the downside, a weakening US Dollar coupled with rising crude oil prices is seeing the Loonie rapidly recover ground against the Greenback, and the pair has dropped through all short-term support points from December's build-up from 1.3225.
USD/CAD, 1-Hour
- Looking back over the past quarter, USD/CAD is heading straight towards a significant support point at the 61.8% Fibo level near 1.3120, which will be the next likely reversal point if the US Dollar finds its footing again.
USD/CAD, 4-Hour
USD/CAD
Overview:
Today Last Price: 1.3231
Today Daily change: -46 pips
Today Daily change %: -0.346%
Today Daily Open: 1.3277
Trends:
Previous Daily SMA20: 1.3522
Previous Daily SMA50: 1.3348
Previous Daily SMA100: 1.3181
Previous Daily SMA200: 1.308
Levels:
Previous Daily High: 1.3324
Previous Daily Low: 1.3268
Previous Weekly High: 1.3666
Previous Weekly Low: 1.338
Previous Monthly High: 1.4134
Previous Monthly Low: 1.316
Previous Daily Fibonacci 38.2%: 1.3289
Previous Daily Fibonacci 61.8%: 1.3302
Previous Daily Pivot Point S1: 1.3255
Previous Daily Pivot Point S2: 1.3233
Previous Daily Pivot Point S3: 1.3199
Previous Daily Pivot Point R1: 1.3311
Previous Daily Pivot Point R2: 1.3345
Previous Daily Pivot Point R3: 1.3367