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USD/CAD erases gains on China tariffs story

  • US dollar tumbles across the board following report on US considering lifting China tariffs. 
  • USD/CAD retreats fuhrer from weekly highs.

The USD/CAD pair dropped from 1.3295 to 1.3247, approaching daily lows following a report from the WSJ mentioning that US officials were debating the option to lift tariffs on Chinese imports. 

The greenback dropped, and equity prices in Wall Street spiked higher. After a few minutes, some reports denied the WSJ article and the US dollar recover some lost ground. 

Still, USD/CAD trades at 1.3270, off American session lows but also below the level it had an hour ago. The pair is back into the range of the last few days. If it continues to trade under 1.3290, the bullish pressure could ease. 

Levels

USD/CAD

Overview:
    Today Last Price: 1.3276
    Today Daily change: 17 pips
    Today Daily change %: 0.136%
    Today Daily Open: 1.3258
Trends:
    Daily SMA20: 1.3474
    Daily SMA50: 1.3365
    Daily SMA100: 1.3196
    Daily SMA200: 1.3094
Levels:
    Previous Daily High: 1.3285
    Previous Daily Low: 1.3235
    Previous Weekly High: 1.339
    Previous Weekly Low: 1.318
    Previous Monthly High: 1.4134
    Previous Monthly Low: 1.316
    Daily Fibonacci 38.2%: 1.3254
    Daily Fibonacci 61.8%: 1.3266
    Daily Pivot Point S1: 1.3233
    Daily Pivot Point S2: 1.3209
    Daily Pivot Point S3: 1.3183
    Daily Pivot Point R1: 1.3284
    Daily Pivot Point R2: 1.331
    Daily Pivot Point R3: 1.3334

 

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