EUR/USD 1.10316
1.655%
Gold 3124.75
-0.237%
Oil 68.629
-2.542%
USD/JPY 146.576
-1.812%
GBP/USD 1.31725
1.276%
GBP/JPY 193.078
-0.508%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Mercedes production manager: Mercedes is still evaluating the impact of tariffs and is considering moving production of one model to the United States.Traders increased bets on the Bank of England to cut interest rates, with three more cuts expected this year.U.S. airline stocks fell in premarket trading, with United Airlines (UAL.O) down 4.13%, American Airlines Group (AAL.O) down 3.3% and Delta Air Lines (DAL.N) down 3.16%.Finnish President: The coalition of willing countries agrees that at least one European leader should talk to Russia. France or Britain should talk to Putin.Singapore Trade Minister: Under the free trade agreement, we can take countermeasures, but we have decided not to do so. We will engage with the United States to understand trade concerns and work together to resolve them. Despite close relations with the United States, we are disappointed to be imposed a 10% basic tariff.

USD/CAD Price Analysis: Retracement Moves Seek Confirmation at 1,3000

Alina Haynes

May 13, 2022 10:00

USD/CAD consolidates recent advances while retreating from its highest level since November 2020, reaching a fresh intraday low around 1.3010 during the Asia session on Friday.

 

In doing so, the Loonie pair depicts a pullback from a four-day-old resistance line, which was near 1.3080 at the time of publication.

 

Given that the downward-sloping RSI (14) line is not oversold, the most recent price downturn may continue for a while longer before reaching any important support.

 

However, a junction of the 100-HMA and a one-week-old ascending trend line at 1.2995 is a formidable obstacle for USD/CAD bears.

 

In the event that the price falls below 1.2995, various levels surrounding 1.2920-10, including the high from early May and the 200-hour moving average, will attract pair sellers.

 

In contrast, a decisive breach of the aforementioned short-term resistance line of 1.3080 would require confirmation from the 1.3100 level before going for the peak of 1.3172 in late November 2020.

 

In conclusion, USD/CAD decline is not indicative of a trend reversal until the quotation breaks 1.2920.

The USD/CAD Hourly Graph

 image.png


Suggestion