USD/CAD Breaks Above Key 1.3250, Tests 1.3300
Photo by Michelle Spollen on Unsplash
- US Dollar gains momentum after US data.
- USD/CAD trades at three-week highs, risks tilted to the upside.
The USD/CAD broke above 1.3250 and climbed to 1.3299, reaching the highest level since July 10. The pair have left behind several days of sideways movement between 1.3250 and 1.3150.
Economic data from the US came in mixed, with the JOLTS job openings coming in below expectations in June at 9.58 million, against a consensus of 9.62 million. The ISM Manufacturing Index PMI rose from 46 in June to 46.4 in July, below the expected 46.8.
More US labor market data is due on Wednesday, with the ADP private employment report, and later on Thursday with the weekly Jobless Claims and Unit Labor Costs. On Friday, the US and Canada will release their official employment reports.
The US dollar remains strong after the data and has climbed to fresh highs versus commodity currencies. US Treasury yields edged higher despite the fact that the economic figures did not show positive surprises.
USD/CAD levels to watch
The outlook for USD/CAD is turning bullish as the pair holds above the critical resistance area of 1.3250. While above this level, more gains seem likely. The next resistance is the 1.3300/10 area, and above that is 1.3350.
The 1.3250 zone has now become the immediate support. A slide below this level would put the pair back in the familiar range. The next support stands at 1.3195.
Technica levels
USD/CAD
OVERVIEW | |
---|---|
Today last price | 1.3298 |
Today Daily Change | 0.0108 |
Today Daily Change % | 0.82 |
Today daily open | 1.319 |
TRENDS | |
---|---|
Daily SMA20 | 1.3216 |
Daily SMA50 | 1.3299 |
Daily SMA100 | 1.3418 |
Daily SMA200 | 1.3461 |
LEVELS | |
---|---|
Previous Daily High | 1.3262 |
Previous Daily Low | 1.3151 |
Previous Weekly High | 1.3255 |
Previous Weekly Low | 1.3147 |
Previous Monthly High | 1.3387 |
Previous Monthly Low | 1.3093 |
Daily Fibonacci 38.2% | 1.3193 |
Daily Fibonacci 61.8% | 1.3219 |
Daily Pivot Point S1 | 1.314 |
Daily Pivot Point S2 | 1.309 |
Daily Pivot Point S3 | 1.303 |
Daily Pivot Point R1 | 1.3251 |
Daily Pivot Point R2 | 1.3311 |
Daily Pivot Point R3 | 1.3361 |
More By This Author:
NIO Stock Forecast: NIO Holds Above $15 After Excellent July Delivery DataEUR/JPY Consolidates Above The 20-Day SMA At The Start Of The Week
USD/CAD Price Analysis: Bears Take Over And The Pair Loses The 20-Day SMA
Disclaimer: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only ...
moreComments
![](/images/tinyMceCommentImg.png)