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.

Free Trading Guides
Oil - US Crude
Wall Street
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
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 1.66% 🇦🇺AUD: 1.52% 🇬🇧GBP: 1.27% 🇪🇺EUR: 0.67% 🇨🇭CHF: 0.51% 🇯🇵JPY: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/kxTAl02muy
  • LIVE IN 45 MINUTES: Join @JStanleyFX as he runs through price action set-ups for the FX and CFDs market. https://www.dailyfx.com/webinars/1338844901231735299
  • In case you were wondering, market sentiment has improved as coronavirus lockdowns have been eased, lifting currencies like $AUD, $GBP and $EUR... https://t.co/OTzXrWqe7Y
  • Update on #Cryptocurrencies #BITCOIN -0.39% #BITCOINCASH -1.92% #ETHEREUM -1.78% #RIPPLE -0.63% #LITECOIN -2.05%
  • Join @JStanleyFX 's #webinar at 1:00 PM ET/5:00 PM GMT for his weekly update on trading price action. Register here: https://t.co/yu1uNFb2tm https://t.co/BEUjNzmi19
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.18% US 500: 0.34% FTSE 100: -0.01% Germany 30: -0.22% France 40: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ZIzA8a6420
  • White House Advisor Kudlow: - China is making a 'big mistake' with Hong Kong - China-US trade deal is still on for now - BBG
  • Happy Tuesday traders! What are some highlights going into this week? Get your market update from @DailyFX Chief Strategist, @JohnKicklighter 👇 https://t.co/4nqq2a5JHW
  • White House Advisor Kudlow says market strength a signal that the US hit it's bottom $SPX $NDX
  • $USDMXN: López Obrador ve esperanzas en la degradación comercial entre #EEUU y #China #usd #mxn #trading https://t.co/345ak2ouvk
USD/CAD Technical Analysis: Treading Water Above 1.13

USD/CAD Technical Analysis: Treading Water Above 1.13

2014-11-13 23:39:00
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: 1.1311, 1.1262, 1.1215
  • Resistance: 1.1435, 1.1531, 1.1608

The US Dollar is digesting losses above the 1.13 figure against its Canadian namesake having run into resistance below the 1.15 mark. Near-term support is at 1.1311, the 23.6% Fibonacci retracement, with a break below that on a daily closing basis exposing a rising trend line at 1.1262. Alternatively, a reversal above the 23.6% Fib expansion at 1.1435 clears the way for a test of the 38.2% threshold at 1.1531.

Risk/reward considerations argue against entering short with prices in close proximity to support. On the other hand, the absence of a defined bullish reversal signal suggests taking up the long side is premature. We will remain flat for now, waiting for a more actionable opportunity to present itself.

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

USD/CAD Technical Analysis: Treading Water Above 1.13

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.


News & Analysis at your fingertips.