USD/CAD rising back into 1.2650 as risk-off markets pick up the Greenback
- Risk aversion kicks off the new trading year as economic fears resume.
- The post-holiday markets, surprised by negative China data, are in retreat mode to open January's trading.
USD/CAD greets the new trading year for 2019 with a fresh round of risk-off trading, sending investors back-pedaling into the US Dollar and sending the Dollar-Loonie pairing back into recent highs as the same problems that plagued markets into the bitter end of 2018 have followed through into 2019.
Crude markets remain fully deflated, and the Loonie finds itself without a solid floor to stand on as the CAD struggles to maintain balance against the steady-marching Greenback. Energies markets have been beaten into submission on crude barrel prices, and American oil barrels via WTI are still trading into the rock-bottom price of 45.00/barrel.
US economic data is thin for Wednesday, but broad-market sentiment is seeing pickup in the USD almost entirely across the board, and USD/CAD is pinned into near-term highs as buyers look for a break into 1.3680.
USD/CAD Technical Levels
Today Last Price: 1.3652
Today Daily change: 12 pips
Today Daily change %: 0.0880%
Today Daily Open: 1.364
Previous Daily SMA20: 1.3513
Previous Daily SMA50: 1.3317
Previous Daily SMA100: 1.3166
Previous Daily SMA200: 1.3067
Previous Daily High: 1.3658
Previous Daily Low: 1.3422
Previous Weekly High: 1.4134
Previous Weekly Low: 1.3564
Previous Monthly High: 1.4134
Previous Monthly Low: 1.316
Previous Daily Fibonacci 38.2%: 1.3512
Previous Daily Fibonacci 61.8%: 1.3568
Previous Daily Pivot Point S1: 1.3489
Previous Daily Pivot Point S2: 1.3337
Previous Daily Pivot Point S3: 1.3252
Previous Daily Pivot Point R1: 1.3725
Previous Daily Pivot Point R2: 1.381
Previous Daily Pivot Point R3: 1.3962