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USD/CAD Technical Analysis: Bulls aiming to challenge multi-month tops, 1.3660 supply zone

   •  The pair found decent support near 200-hour SMA and reversed its intraday corrective slide to move back closer to the top end of its daily trading range. 

   •  Technical indicators on hourly charts have regained positive traction and support prospects for further appreciating move amid a pickup in the USD demand.

   •  However, oscillators on the daily chart are still pointing to slightly overbought conditions and might turn out to be the only factor keeping a lid on additional gains. 

   •  Hence, any subsequent up-move might continue to confront fresh supply and remain capped near the 1.3660 region, or over 19-month tops set recently.

USD/CAD 1-hourly chart

USD/CAD

Overview:
    Today Last Price: 1.364
    Today Daily change: 0.0 pips
    Today Daily change %: 0.00%
    Today Daily Open: 1.364
Trends:
    Previous Daily SMA20: 1.3513
    Previous Daily SMA50: 1.3317
    Previous Daily SMA100: 1.3166
    Previous Daily SMA200: 1.3067
Levels:
    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

 

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