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6 Aug 2019
USD/CAD technical analysis: Greenback challenging last week highs near 1.3270 level
- As the market mood improves, the greenback is recovering across the board this Tuesday.
- The levels to beat for bulls are the 1.3270 level, followed by 1.3300 and 1.3320 resistance.
USD/CAD daily chart
USD/CAD is grinding up above the 1.3200 level and the 50-day simple moving averages (DSMA) suggesting a correction up towards the 1.3300 figure.
USD/CAD 4-hour chart
The market is trading above its main SMAs, suggesting a bullish momentum in the medium term. A break above 1.3270 can lead to 1.3300, 1.3320 and potentially 1.3345 on the way up, according to the Technical Confluences Indicator.
USD/CAD 30-minute chart
USD/CAD is challenging last week high while trading above its main SMAs. Immediate support is seen at 1.3230 and the 1.3200 figure, according to the Technical Confluences Indicator.
Additional key levels