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USD/CAD technical analysis: Stellar NFP sees greenback recovering some ground near 1.3100

2019-07-06 02:00    OctaFX
  • USD/CAD is off the multi-month lows as the market is near 1.3100.
  • Resistances to the upside are seen at 1.3123 and 1.3170.

 

USD/CAD daily chart

USD/CAD is hovering near multi-month lows as the market is trading below its main daily simple moving averages (DSMAs).

USD/CAD technical analysis: Stellar NFP sees greenback recovering some ground near 1.3100 Currency News 1

 

USD/CAD 4-hour chart

USD/CAD leaped above the 1.3100 figure on the stellar US Nonfarm Payrolls. The market is now hovering around this level and the 50 SMA. The level to beat for bears is 1.3060 and 1.3055.

USD/CAD technical analysis: Stellar NFP sees greenback recovering some ground near 1.3100 Currency News 2

USD/CAD 30-minute chart

The market is trading near 1.3100 while above its main SMAs. Bulls would ideally need a close above 1.3123 to reach 1.3170, according to the Technical Confluences Indicator.

USD/CAD technical analysis: Stellar NFP sees greenback recovering some ground near 1.3100 Currency News 3

 

Additional key levels

 

CADNFPTechnical Analysis

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