News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • 🇯🇵 Industrial Production YoY Final (APR) Actual: 15.8% Previous: 3.4% https://www.dailyfx.com/economic-calendar#2021-06-14
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 76.03%, while traders in France 40 are at opposite extremes with 86.63%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/7kaHb1d6UW
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.18% 🇨🇦CAD: 0.06% 🇦🇺AUD: 0.02% 🇯🇵JPY: -0.09% 🇪🇺EUR: -0.09% 🇨🇭CHF: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/R27enQXtSt
  • Heads Up:🇯🇵 Industrial Production YoY Final (APR) due at 04:30 GMT (15min) Previous: 3.4% https://www.dailyfx.com/economic-calendar#2021-06-14
  • Gold Prices Fall as Fed Balance Sheet Hits $8 Trillion, Reverse Repo Surges https://www.dailyfx.com/forex/market_alert/2021/06/14/Gold-Prices-Fall-as-Fed-Balance-Sheet-Hits-8-Trillion-Reverse-Repo-Surges.html https://t.co/ctHrf1SrHj
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.31% France 40: 0.31% Germany 30: 0.21% US 500: 0.11% Wall Street: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/NYj5rbM6DD
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/HDRvm345Gz
  • 🇨🇳 FDI (YTD) YoY (MAY) Actual: 35.4% Previous: 38.6% https://www.dailyfx.com/economic-calendar#2021-06-14
  • (ASEAN Weekly) US Dollar Technical Outlook: USD/SGD, USD/THB, USD/IDR, USD/PHP $USDSGD $USDTHB $USDIDR $USDPHP #USD #ASEAN https://www.dailyfx.com/forex/technical/article/special_report/2021/06/14/US-Dollar-Technical-Outlook-USDSGD-USDTHB-USDIDR-USDPHP.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/mMqdANiExD
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/GyrGov5FMU
USD/CAD Technical Analysis – Opting Against Entering Short

USD/CAD Technical Analysis – Opting Against Entering Short

Ilya Spivak, Head Strategist, APAC

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points:

  • USD/CAD Technical Strategy: Flat
  • Support: 1.0664, 1.0629, 1.0600
  • Resistance: 1.0721, 1.0777, 1.0812-13

The Canadian Dollar resumed the advance against its US counterpart, with sellers now poised to push below the 1.07 figure. A narrow close below support at 1.0721, the 100% Fibonacci expansion, has exposed the 1.0664 level marked by the 123.6% level and a rising trend line set from mid-September 2012. Alternatively, a reversal back above 1.0721 opens the way for another challenge of 1.0777, marked by the 76.4% Fibonacci expansion and a falling trend line connecting major swing lows since mid-February.

While the break of resistance argues in favor of a short position, emerging signs of positive RSI divergence hint at ebbing downward momentum and warn against chasing the pair lower. With that in mind, we will opt to remain on the sidelines.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

USD/CAD Technical Analysis – Opting Against Entering Short

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES