7 Aug 2019
USD/CAD technical analysis: Greenback rises above the 1.3300 figure against CAD
- The Canadian Dollar is weakeneing as crude oil is going down.
- The levels to beat for bulls are the 1.3345 level, followed by 1.3446 resistances on the way up.
USD/CAD daily chart
USD/CAD is pushing above the 1.3300 figure and the 100/200 day simple moving averages (DSMAs) as crude oil is trading down.
USD/CAD 4-hour chart
USD/CAD is making new weekly highs as it is testing the 1.3345 resistance. Bulls are looking for an extension of the bull trend beyond this level. The next resistances on the way up are seen at the 1.3363 and 1.3446 levels, according to the Technical Confluences Indicator.
USD/CAD 30-minute chart
USD/CAD is evolving above its main SMAs, suggesting bullish momentum in the near term. Immediate support is seen at 1.3320 and the 1.3300 figure, according to the Technical Confluences Indicator.
Additional key levels