USD/CAD Price Analysis: Maintains Its Position Near 1.3330 Ahead Of The US Key Events


USD/CAD hovers near 1.3330 during the Asian session on Wednesday. The USD/CAD pair receives upward support as investors turn back to the US Dollar (USD) on risk-off sentiment.The technical analysis of the Moving Average Convergence Divergence (MACD) for the USD/CAD pair suggests a potential shift in the pair’s trend as the MACD line lies below the centreline but shows divergence above the signal line.However, the lagging indicator 14-day Relative Strength Index (RSI) is positioned below 50. Traders will likely wait for confirmation implying that the USD/CAD pair could change its direction.The USD/CAD pair could find key support near the psychological level at 1.3300 following the major support at 1.3250 level. A break below the latter could push the pair to navigate the region around the weekly low at 1.3228 followed by the psychological level at 1.3200.The analysis suggests that on the upside, the major level at 1.3350 aligned with the 23.6% Fibonacci retracement level at 1.3351 could act as a key resistance zone. A breakthrough above the key resistance zone could lead the USD/CAD pair to surpass the 21-day Exponential Moving Average (EMA) at 1.3363 following the psychological barrier at 1.3400.If the USD/CAD pair manages to pass through the psychological resistance, it may explore further upward movement toward the 38.2% Fibonacci retracement level at 1.3456. USD/CAD: Daily Chart  USD/CAD: MORE TECHNICAL LEVELS

OVERVIEW Today last price 1.3326 Today Daily Change -0.0005 Today Daily Change % -0.04 Today daily open 1.3331

 

TRENDS Daily SMA20 1.3379 Daily SMA50 1.358 Daily SMA100 1.3585 Daily SMA200 1.3485

 

LEVELS Previous Daily High 1.3334 Previous Daily Low 1.3229 Previous Weekly High 1.3267 Previous Weekly Low 1.3178 Previous Monthly High 1.362 Previous Monthly Low 1.3178 Daily Fibonacci 38.2% 1.3294 Daily Fibonacci 61.8% 1.3269 Daily Pivot Point S1 1.3262 Daily Pivot Point S2 1.3193 Daily Pivot Point S3 1.3157 Daily Pivot Point R1 1.3367 Daily Pivot Point R2 1.3403 Daily Pivot Point R3 1.3472

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