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USD/CAD Technical Analysis: trapped in a contracting triangle

  • Trapped in a narrowing price range, the USD/CAD pair is currently trading at 1.3370 on the hourly chart.
  • A convincing break above 1.3410 would confirm a bullish breakout and signal a continuation of the rally from the recent low of 1.3160. On the way higher, the pair may face resistance at 1.3445 Dec.6 high).
  • A move below 1.3350 would imply triangle breakdown or bearish reversal and open up downside toward the ascending 50-day moving average (MA), currently at 1.3175.

Hourly Chart

Trend: neutral

USD/CAD

Overview:
    Today Last Price: 1.3369
    Today Daily change: 17 pips
    Today Daily change %: 0.127%
    Today Daily Open: 1.3352
Trends:
    Previous Daily SMA20: 1.3286
    Previous Daily SMA50: 1.3169
    Previous Daily SMA100: 1.3095
    Previous Daily SMA200: 1.3026
Levels:
    Previous Daily High: 1.3384
    Previous Daily Low: 1.3338
    Previous Weekly High: 1.3445
    Previous Weekly Low: 1.316
    Previous Monthly High: 1.336
    Previous Monthly Low: 1.3048
    Previous Daily Fibonacci 38.2%: 1.3356
    Previous Daily Fibonacci 61.8%: 1.3367
    Previous Daily Pivot Point S1: 1.3332
    Previous Daily Pivot Point S2: 1.3312
    Previous Daily Pivot Point S3: 1.3286
    Previous Daily Pivot Point R1: 1.3378
    Previous Daily Pivot Point R2: 1.3404
    Previous Daily Pivot Point R3: 1.3424

 

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