USD/CAD Technical Analysis: Immediate descending trendline keeps dragging the quote toward 1.3235/40

15 Mar 2019

  • USD/CAD presently trades near 1.3310 during early Friday.
  • Ever since the quote reversed from 1.3465/70 late last week, it follows a downward sloping trend-line, at 1.3360 now.
  • Unless the pair breaks 1.3360, sellers can aim for 1.3285 and 1.3240/35 area that includes February-end highs.
  • Given the bears’ refrain from respecting 1.3235, 1.3180, 1.3150 and 1.3110 could appear on their radar to target.
  • If at all prices break 1.3360 upside barrier, buyers can aim for 1.3390 ahead of confronting the 1.3465/70 region for one more time.
  • Additionally, 1.3500, 1.3550 and 1.3575 are likely following numbers that can please bulls past-1.3470.

USD/CAD 4-Hour chart

USD/CAD

Overview:
    Today Last Price: 1.3309
    Today Daily change: -0.0025 pips
    Today Daily change %: -0.19%
    Today Daily Open: 1.3334
Trends:
    Daily SMA20: 1.3278
    Daily SMA50: 1.3264
    Daily SMA100: 1.33
    Daily SMA200: 1.3185
Levels:
    Previous Daily High: 1.3349
    Previous Daily Low: 1.3287
    Previous Weekly High: 1.3469
    Previous Weekly Low: 1.3275
    Previous Monthly High: 1.3341
    Previous Monthly Low: 1.3069
    Daily Fibonacci 38.2%: 1.3325
    Daily Fibonacci 61.8%: 1.331
    Daily Pivot Point S1: 1.3298
    Daily Pivot Point S2: 1.3261
    Daily Pivot Point S3: 1.3236
    Daily Pivot Point R1: 1.336
    Daily Pivot Point R2: 1.3385
    Daily Pivot Point R3: 1.3422

 

Trading foreign exchange on margin carries high potential rewards but also high potential risks that may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience and risk appetite. Past performance is not indicative of future results, which can vary due to market volatility. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Any opinions, news, research, analyses, prices or other information contained on this website or linked to from this website are provided as general market commentary and do not constitute investment advice. AUSFOREX does not accept liability for any loss or damage, including any loss or profit, which may arise directly or indirectly from use of or reliance on such information.

Register a Demo Account

Test drive our trading platform with a 30 day free trial

Register a Live Account

Get started.Open a Forex and CFD trading account with AUSFOREX now

Deposit Funds

Express way for deposit funds

Live Chat

Chat live with one of our 7*24 hour multilingual customer service team