USD/CAD technical analysis: Greenback gets rejected at the 1.3500 figure one more time

  • CAD is gaining momentum as crude oil is up on on Wednesday. CAD is correlated to oil.
  • The 1.3500 figure is a tough nut to crack and buyers have not been able to pierce through it yet.

USD/CAD daily chart

USD/CAD stays trapped in the 1.3400-1.3500 range while the market trades above its main simple moving averages (SMAs).

USD/CAD 4-hour chart

The market is rejecting once again the 1.3500 figure. 

USD/CAD 30-minute chart

USD/CAD seems set to remain contained in a tight range between 1.3440 and 1.3500 figure. However, if sellers manage to break below 1.3440 the market might dive down to 1.3400 the figure.

Additional key levels

Products You May Like

Articles You May Like

USD/CAD Canadian Dollar Lower on Lower Oil and Chinese Mixed Data
Video: CAD, the impossible Brexit and my top trade idea right now
WTI futures settle the day (and for the week) up $0.01 at $60.21
Stocks at all time highs. Earnings season starts next week
AUDUSD Jumps on Chinese GDP, Econ Data – Trade War in Focus

Leave a Reply

Your email address will not be published. Required fields are marked *