USD/CAD Technical Analysis: Greenback weaker against CAD, settles near 1.3230 level

USD/CAD is ending the week virtually unchanged near 1.3230 level.
The level to beat for bulls is the 1.3280 resistance.

Flavio Tosti Independent Analyst

USD/CAD daily chart

The Loonie on the daily chart is trading below the 1.3250 level and the 200-day simple moving averages (DMA). This Friday, USD/CAD declined on USD weakness.

USD/CAD four-hour chart

USD/CAD is trading above its main SMAs, suggesting bullish momentum in the medium term. However, buyers must break above the 1.3280 resistance to reach the 1.3320 level on the way up, according to the Technical Confluences Indicator.

USD/CAD 30-minute chart

USD/CAD is trading below its main SMAs, suggesting a bearish momentum in the near term. Support is seen at 1.3230 level followed by the 1.3213 level, according to the Technical Confluences Indicator.

Additional key levels

USD/CAD

Overview
Today last price	1.3233
Today Daily Change	-0.0017
Today Daily Change %	-0.13
Today daily open	1.325

Trends
Daily SMA20	1.3149
Daily SMA50	1.3208
Daily SMA100	1.32
Daily SMA200	1.3277

Levels
Previous Daily High	1.3272
Previous Daily Low	1.3244
Previous Weekly High	1.3238
Previous Weekly Low	1.3114
Previous Monthly High	1.3349
Previous Monthly Low	1.3042
Daily Fibonacci 38.2%	1.3255
Daily Fibonacci 61.8%	1.3262
Daily Pivot Point S1	1.3238
Daily Pivot Point S2	1.3227
Daily Pivot Point S3	1.321
Daily Pivot Point R1	1.3267
Daily Pivot Point R2	1.3284
Daily Pivot Point R3	1.3296

Author

Flavio Tosti

Independent Analyst

EUR/USD stays weak near 1.1850 after dismal German ZEW data

EUR/USD remains in the red near 1.1850 in the European session on Tuesday. A broad US Dollar bullish consolidation combined with a softer risk tone keep the pair undermined alongside downbeat German ZEW sentiment readings for February.

GBP/USD holds losees near 1.3600 after weak UK jobs report

GBP/USD is holding moderate losses near the 1.3600 level in Tuesday's European trading. The United Kingdom employment data suggested worsening labor market conditions, bolstering bets for a BoE interest rate cut next month. This narrative keeps the Pound Sterling under bearish pressure.

Gold pares intraday losses; keeps the red above $4,900 amid receding safe-haven demand

Gold (XAU/USD) attracts some follow-through selling for the second straight day and dives to over a one-week low, around the $4,858 area, heading into the European session on Tuesday.

Canada CPI expected to show sticky inflation in January, still above BoC’s target

Economists see the headline CPI rising by 2.4% in a year to January, still above the BoC’s target and matching December’s increase. On a monthly basis, prices are expected to rise by 0.1%.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Stellar mixed sentiment caps recovery

Stellar price remains under pressure, trading at $0.170 on Tuesday after failing to close above the key resistance on Sunday. The derivatives metric supports the bearish sentiment, with XLM’s short bets rising among traders and funding rates turning negative.