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USD/CAD manages a bounce back towards 1.3250

  • The Loonie remains tied tightly to oil barrels' performance, in lock-step with WTI charts.
  • Despite the pair's early bounce, bearish continuation is almost assured.

USD/CAD is seeing a thin bounce from Wednesday's lows as the CAD continues to track closely with oil prices, and the recovery in WTI prices is seeing the Dollar-Loonie pairing stoop lower as the CAD rides oil prices higher.

The US Dollar dipped to a low of 1.3180 on Wednesday against the Loonie, and the pair's early Thursday bounce sees the pair challenging 1.3240, but with the CAD remaining tied tightly to oil prices, the Loonie's weakening stance will only last as long as the WTI's soft decline in early Thursday trading.

USD/CAD Technical Levels

USD/CAD

Overview:
    Today Last Price: 1.3236
    Today Daily change: 20 pips
    Today Daily change %: 0.151%
    Today Daily Open: 1.3216
Trends:
    Previous Daily SMA20: 1.3514
    Previous Daily SMA50: 1.335
    Previous Daily SMA100: 1.3183
    Previous Daily SMA200: 1.3082
Levels:
    Previous Daily High: 1.3284
    Previous Daily Low: 1.318
    Previous Weekly High: 1.3666
    Previous Weekly Low: 1.338
    Previous Monthly High: 1.4134
    Previous Monthly Low: 1.316
    Previous Daily Fibonacci 38.2%: 1.3219
    Previous Daily Fibonacci 61.8%: 1.3244
    Previous Daily Pivot Point S1: 1.3169
    Previous Daily Pivot Point S2: 1.3123
    Previous Daily Pivot Point S3: 1.3066
    Previous Daily Pivot Point R1: 1.3273
    Previous Daily Pivot Point R2: 1.333
    Previous Daily Pivot Point R3: 1.3376

 

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