USD/CAD technical analysis: Greenback trading at its lowest in nine months against CAD, sub- 1.3100
|- USD/CAD is challenging levels not seen since October 2018.
- Sellers need a breakout below 1.3037 support.
USD/CAD daily chart
USD/CAD is dropping to multi-month lows as the market is trading below its main daily simple moving averages (DSMAs).
USD/CAD 4-hour chart
USD/CAD had a small reaction up above the 1.3037 support but remains under heavy bearish pressure below its main SMAs. If the market break below 1.3037 support, the next levels to the downside can be seen at 1.3016 and 1.2969.
USD/CAD 30-minute chart
The market is trading below its main SMAs suggesting a bearish bias in the near term. Resistances can be seen at 1.3080, 1.3100 and 1.3125, according to the Technical Confluences Indicator.
Additional key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.