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

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